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Wednesday, 10/04/2017 8:57:00 AM

Wednesday, October 04, 2017 8:57:00 AM

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OTI Receives Second Batch Purchase Order of 2,000 Cashless Payment Systems from Japan

ROSH PINNA, Israel, Oct. 4, 2017

Brings total number of ordered systems to 5,000 during 2017
OTI's industry-leading EMV and FeliCa contactless readers are the latest innovations in FeliCa payment industry
Japan's estimated 6 million electronic vending machines represent a major opportunity for OTI's innovative secure cashless payment solutions in the Asia-Pacific market

/PRNewswire/ -- On Track Innovations Ltd. (OTI) (OTIV), a global provider of near field communication (NFC) and cashless payment solutions, announced today it has received the second batch purchase order of 2,000 cashless payment systems from Japan. The systems include the Company's new UNO Plus EMV and FeliCa contactless reader and the GoBox Multi-Service Telemetry Gateway. The initial 3,000 system delivery that was announced earlier this year has been successfully installed and activated according to schedule by Billing Systems, OTI's exclusive distributor in Japan.

"OTI's systems have seamlessly integrated into the Japanese market. We are very satisfied with their continuing reliability and superior product delivery," says Mr. Toshihiko Eda, President & CEO of Billing Systems. "With OTI we look forward to a continually bright future within the Japanese cashless payment market."

This recent order of 2,000 and the initial order of 3,000 are both part of a previously announced Letter of Intent and three-year purchase order for an impending 10,000 secure cashless payment solutions systems in Japan.

"The Japanese market, which has an estimated 6 million electronic vending machines, is rapidly adopting our systems," said Shlomi Cohen, OTI's CEO. "While the Japanese market can be conservative in adapting to new technology, we believe this latest purchase order reflects this market's confidence in the reliability of our technologies, as well as our ability to deliver in accordance with strict deadlines. This early success points to OTI's potential for further traction in this key global market."

OTI's UNO Plus is the first contactless reader produced outside Japan to achieve dual EMV and FeliCa certification.

OTI's GoBox is a powerful Machine-to-Machine (M2M) controller, payment gateway and multi-services enabler for unattended machines. It provides new revenue streams for machine operators, from accepting cashless payments through streaming paid Full-HD video via the GoBox's HDMI output.