OTI Receives Purchase Orders for Thousands of Payment Systems to be Installed at Leading U.S. Food Chains and Kiosk Operators
ROSH PINNA, Israel, Feb 15, 2017 (GLOBE NEWSWIRE via COMTEX) --
Numerous purchase orders received in first 6 weeks of 2017 from multiple channel partners in line with growth expectations
Self-check-out kiosk market estimated to reach $18 billion by 2023
On Track Innovations Ltd. (OTI) OTIV, +4.49% a global provider of near field communication (NFC) and cashless payment solutions, today announced it has received purchase orders through its channel partners to supply thousands of advanced self-checkout payment systems, incorporating the Company's cashless payment systems, to leading U.S. based kiosk and food chain operators. The systems will be shipped throughout 2017.
The cashless payment systems are intended to be used at kiosks and self-checkout stations in a number of retail and "household name" food chain outlets across the USA. The purchase orders were received from numerous OTI channel partners during the first six weeks of 2017.
"These purchase orders continue the growth momentum we are currently experiencing at OTI," says Shlomi Cohen, OTI's CEO. "We bring an all-inclusive and affordable solution for the global self-checkout kiosk market that is estimated to reach U.S. $18 billion by 2023. The inclusion of near field communication (NFC) technology - our expertise - into these machines is changing operations on a global scale. It enables customers to have an intuitive, quick and seamless shopping experience."
About OTI
On Track Innovations (OTI) is a global leader in the design, manufacture and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address cashless payment and management requirements for the Internet of Things (IoT), wearables, unattended retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.
