OTI and Hemisphere West Europe Partner To Offer Powerful Cashless Payment Solutions for the UK Unattended Retail Markets
ROSH PINA, Israel, Jan 17, 2017 (GLOBE NEWSWIRE via COMTEX) --
UK is Europe's 2nd largest vending market, with over 500,000 machines generating over EUR 2 billion per year
75% of market remains untapped and represents opportunity for OTI
On Track Innovations Ltd. (OTI) OTIV, +0.67% a global provider of near field communication (NFC) and cashless payment solutions, today announced it has appointed Hemisphere West Europe (HWE) as its exclusive distributor of NFC-based cashless payment and telemetry solutions for vending, kiosk and coin-operated pulse machine operators in the United Kingdom.
HWE will offer OTI's three major cashless payment solutions to their customers. otiMetry for vending machine operators, otiKiosk for kiosk and micro-market operators, and PayActiv8 which targets coin-operated pulse machine operators who want to add cashless payment acceptance to their machines.
Each solution utilizes OTI's patented hardware and software components, including cashless payment readers, connectivity devices and terminal management systems (TMS) and will provide HWE's customers with an affordable end-to-end solution to manage and support their entire business management process.
According to the 2015 European Vending Association Report, the UK generates more than EUR 2 billion in vending revenue each year, and is the 2nd largest vending market in Europe. There are more than 500,000 vending machines in the UK, representing 1 of every 9 vending machines in Europe.
"Only 25% of vending machines in the UK currently accept cashless payments," says Eran Bar, OTI's Sales Manager for Europe, Middle East, and Africa (EMEA) region. "The remaining 75% represents a huge opportunity for OTI, and our strategic alliance with HWE is an extremely important key to our growth and success in 2017."
The UK is also experiencing a huge growth in micro markets, whereby corporate offices set up self-checkout food facilities for their employees. OTI has successfully deployed their otiKiosk solution in many micro markets in the United States through HWE's sister company, Unattended Card Payments (UCP) Inc.
About Hemisphere West EuropeFor over 14 years Hemisphere West Europe Ltd (HWE) have specialized in unattended payment solutions, today we are heavily focused on the credit card acceptance market. We have a detailed understanding of all three key components in accepting credit cards in UK & European markets - hardware, Payment Gateways and Acquirers, only with this knowledge can accurate advice be given to our customers to ensure the best solution is provided for their application.
Working with our partner suppliers we offer credit card hardware and payment gateway services in all verticals such as Amusement, Car Parking, Kiosk, Laundromat & Vending. For more information please visit www.hweurope.com.
Our sister company Unattended Card Payments Inc. (UCP) offer the same services in the North American market.
