OTI Receives Purchase Order for First Installment of 10,000 Cashless Payment Systems Sale into Japanese Market
ROSH PINNA, Israel, Jan. 31, 2017 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (OTI) (OTIV), a global provider of near field communication (NFC) and cashless payment solutions, today announced receiving its first purchase order of FeliCa certified contactless advanced payment systems from a well-known Japanese retailer. The order is based on a Letter of Intent (LOI) previously announced by OTI between the Company and the major Japanese retailer to purchase 10,000 systems over a period of 3 years.
The payment systems in this purchase order are expected to be delivered during 2017. The system is based on the Company’s new UNO 8700 EMV and FeliCa contactless reader and the GoBox Multi-Service Telemetry Gateway.
“This is a significant purchase order for OTI,” said Shlomi Cohen, OTI’s CEO. “Japan has an estimated 6 million vending machines, which represents a major opportunity for growth for OTI in the Asia-Pacific market. Our FeliCa-based otiMetry vending telemetry solution is perfectly suited for the Japanese market where our technology offers FeliCa cashless payments, which are required for local customers, while also enabling international customers a way to pay using their preferred EMV credit cards, such as Visa and MasterCard.”
otiMetry is a modular and cost-effective telemetry solution for smart vending and cashless payments. otiMetry incorporates telemetry, sales, operations, and marketing into an affordable all-inclusive solution that makes any vending business a smart and interactive one with real-time online management capabilities and alerts. The otiMetry System includes the OTI UNO 8700 Reader and the GoBox Multi-Service Telemetry Gateway.
OTI’s UNO 8700 is the first contactless reader produced outside Japan to achieve dual EMV/FeliCa certification.
OTI’s GoBox is a powerful M2M cashless payment and multi-services enablement gateway for unattended machines. It provides new revenue streams for machine operators, from accepting cashless payments through to selling Full-HD video via GoBox’s HDMI output.
