On Track Innovations Ltd. (OTIV)

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OTI Enters Russian Unattended Cashless Payment Market with Leading Local Partners


ROSH PINNA, Israel, June 19, 2017 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (OTI) (OTIV), a global provider of near field communication (NFC), cashless payments and fuel management solutions, has formed a new strategic partnership with local partners in the Russian Federation to supply cashless payment solutions for various market segments.

The local partners are considered to be the largest Russian vending operators, with an extensive installed base of coffee and snack machines throughout the Federation. The agreement includes the entire range of OTI’s cashless payment solutions for unattended retail environments including otiMetry vending Telemetry, Trio and Uno EMV cashless readers.

These partners embrace considerable experience and knowledge of the vending industry, have thorough understanding of the Russian vending market demands and maintain extensive R&D providing localization and customization services to support their clients’ requirements.

“Entering the Russian Federation, which is currently adopting cashless payment solutions, provides OTI an excellent opportunity for a fast-growing market and shows how we are committed to increasing our presence and activities in global markets,” says OTI CEO, Shlomi Cohen. “Our certified and cost-effective cashless payment solutions are constantly proven to be an excellent fit to vending, self-service and automated retail markets.”

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