Followers | 145 |
Posts | 27575 |
Boards Moderated | 3 |
Alias Born | 02/07/2004 |
Wednesday, July 13, 2016 10:58:51 AM
Marketwired July 13, 2016
ROSH PINA, ISRAEL--(Marketwired - Jul 13, 2016) - On Track Innovations Ltd. (oti) ( NASDAQ : OTIV ), a global provider of Near Field Communication (NFC) and cashless payment systems, has successfully initiated pilot installations of its SATURN 6700 UNO NFC readers in financial self-service terminals/automated teller machines (ATMs) throughout Europe, Asia, and North America.
In January 2016, oti secured a strategic partnership with the leading provider of magnetic card readers used in financial self-service terminals globally to equip the partner's terminals with oti's NFC readers. Following the initial pilot deployments during the second quarter of 2016, the partners are actively marketing the retrofitted NFC solution to the magnetic card reader provider's existing global customer base, initialing targeting more than 200,000 self-service terminals. The partners estimate the total addressable market for oti's reader to be more than three million terminals around the world.
"Our innovative NFC technology allows major financial institutions to benefit from the power and growing consumer adoption of NFC to not only enhance the customer experience, but also significantly improve security and lower operating costs," said oti CEO Shlomi Cohen. "We look forward to further collaborating with our strategic partner to retrofit their installed base of self-service terminals, which represents a majority of our overall total addressable market."
The patented SATURN 6700 UNO's ultra-compact form factor was designed to easily add NFC capability to existing unattended electronic transaction terminals, from ATMs and self-checkout kiosks to access control points, vending machines and gaming machines. UNO's "plug-and-play" design makes it highly cost-effective to deploy alongside existing magnetic card readers, allowing the transaction terminal to seamlessly accept contactless cards and NFC-based mobile payments, such as Apple Pay™, Android Pay™ or Samsung Pay™.
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM