SEATTLE, Jan. 13, 2014 /PRNewswire/ -- Washington and California business owner, private investor and venture capitalist Jerry Ivy, Jr. will join other On Track Innovations Ltd. (OTI) (NASDAQ: OTIV) leaders to ring the NASDAQ Stock Market closing bell on Tuesday, Jan. 14.
Ivy has made significant investments in the software and technology industries and is an OTI board member and major long-term OTI shareholder.
"Ringing the NASDAQ closing bell is an honor for me and the entire OTI organization," said Ivy. "It signifies OTI's innovative solutions are broadly recognized as streamlining business processes and adding significant consumer value."OTI is a pioneer and leading developer of cutting-edge cashless, contactless and near-field communication (NFC) payment solutions. OTI's products have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems, and mass transit ticketing. A major marketplace innovation is OTI's proprietary WAVE solution, which adds NFC, contactless payment and MIFARE (contactless smart cards) capabilities to existing iPhone and Android mobile devices. Pairing the WAVE dongle with any handset requires no expertise or special tooling. WAVE's contactless interface supports contactless payment for MasterCard, Visa and other card associations, debit and credit, e-Purse, mass transit ticketing, e-coupons, loyalty program and healthcare applications. A video demonstration of the WAVE solution can be viewed at: http://www.otiglobal.com/our-products/oti-wave/. The closing bell ceremony is being held at NASDAQ's MarketSite in New York City and will be webcast live online starting at 3:45 p.m. Eastern time via this link: http://www.nasdaq.com/about/marketsitetowervideo.asx. About Mr. Ivy: Jerry L. Ivy, Jr., was elected to OTI's Board of Directors in December 2013. Mr. Ivy brings 30 years of experience in diverse industries ranging from the manufacture and nationwide distribution of personal items including cosmetics and beauty products and of commercial items including restaurant equipment and chemicals. Mr. Ivy has also actively traded commercial, agricultural, and residential real estate throughout the western United States over the past three decades. About OTI: On Track Innovations Ltd. (OTI) is a leader in contactless and NFC applications. OTI's field-proven innovations are based on an extensive IP portfolio boasting 24 patent families and over 100 patents and patent applications worldwide. OTI markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com. Media Contact: Rochelle Olson, 509-438-0818 SOURCE Jerry Ivy