Deliveries of All Units are Expected This Year
OTI Designed a Custom-Built Antenna to Fit the Customer's Wide Range of Products
ROSH PINA, Israel, May 20, 2013 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (" OTI") (Nasdaq:OTIV) today announced receipt of a blanket order for 30,000 of its Near Field Communication (NFC) and contactless payment readers for use in North America from a global leader of integrated technology solutions in the retail petroleum industry. OTI plans to deliver the entire order to its customer this year and expects additional revenues for providing support services to the customer. OTI expects to receive follow-on reader orders from this customer later this year.OTI worked closely with the customer to create a custom-built antenna (hardware) and support the various contactless payment schemes (application) on the reader itself, ultimately providing the customer with an OEM kit to fit the customer's wide range of products. OTI was chosen over its competitors for its proven ability to solve the customer's specific needs based on its know-how and extensive intellectual property. In addition to the major card associations' contactless programs, OTI embedded the ISIS NFC SmartTap Reader Application on the custom-built OEM kit. With its SCI OEM integrated solution and the Saturn outdoor and indoor line of readers, OTI readers provide an easy, cost effective plug-and-play solution to support the migration toward contactless payment and NFC, necessary to support the increasing adoption of NFC payment technology across the world. OTI's NFC readers are certified by the world's major credit card associations – including MasterCard, Visa, American Express, Discover and Interac for their contactless programs. Also, OTI's state of the art manufacturing facilities and products received the prestigious Terminal Quality Management (TQM) certification from MasterCard. The TQM scheme was created by MasterCard to ensure that the functionality of chip terminals, as certified during type approval testing by EMVCo, can be sustained throughout a manufacturing cycle.