June 5, 2014
oti is known for its expertise in provision of NFC and cashless payment solutions. We had the opportunity of an exclusive interview with oti executives. We want to highlight their recent press releases citing deployment of payment solutions. The most recent one talks about their launch of trio modular payment readers. The other highlighted press release talks about oti’s deployment of their EasyPark solution in Albania.
oti Launches Trio Modular Payments Reader
The Trio Reader Handles Multiple Payment Methods in Single Solution
for Self-Service markets
ROSH PINA, ISRAEL, June 3, 2014 -- On Track Innovations Ltd. (oti) (NASDAQ:OTIV), a global provider of near field communication (NFC) and cashless payment solutions, introduced today its standards-certified Trio modular reader three-in-one payment solution.
oti’s Trio, an innovative modular reader for the cashless payment industry, provides multiple payment options in unattended market segments, such as vending machines, self-service laundromats and car washes. The reader works with magnetic stripe cards, contactless payment solutions and secure credit/debit/prepaid cards with built-in EMV smart chip compatibility. The multiple payment solution evolved from oti’s field-proven Saturn 6500, a panel mount reader designed for indoor and outdoor installations.
Trio gives our clients the flexibility to use any card interface their customers might need to perform payment – including legacy magnetic stripe technology – while also preparing them for emerging payment solutions such as contactless cards, NFC-enabled devices and smart phones and smart EMV cards, said Ofer Tziperman, oti’s CEO. Trio offers the breadth and credibility the rapidly expanding cashless payments solutions for the self-service market needs.
The oti Trio is an innovative, cost effective reader that can be purchased and installed using a modular approach, allowing self-service operators a variety of configuration options:
For those not purchasing the full solution, adding additional modules is a quick and simple, vandal- and tamper-proof, plug-in hardware retrofit.
Trio Reader Opens New Markets for Company
oti currently works with the largest self-service solutions providers in the United States, Canada and Europe. It already has orders and is implementing the outdoor environment-resistant Trio readers for several large customers in businesses including vending machine operators and self-service car washes.
Each target market for the Trio currently has millions of legacy coin-operated machines that eventually will be upgraded to solutions that allow for cashless payment solutions.
Our existing and new customers have responded very positively to Trio, both for its flexible payment options, and because it is ‘future proof,’’ Tziperman said. The ability to purchase the solution in whatever configuration makes most sense for our customers today – based on both needs and budgets – really resonates with companies in self-service industries. It’s important to them that they can easily add on additional modules such as the EMV reader in just minutes per machine, when the time is right.
By October 1, 2015, all point-of-sale machines that accept cashless payments must be EMV certified in the U.S. This move, known as the Counterfeit Card Liability Shift, essentially provides that parties making investments in EMV deployments by October 2015 are protected from financial liability for card-present counterfeit fraud losses.
Certified Supported Applications for oti’s Trio include:
oti Opens Albanian Parking market with PARX’s EasyPark System
Collaboration with TIS Ltd. Begins with 4,000 Managed Parking Spaces
ROSH PINA, ISRAEL – May 29, 2014 – PARX Ltd., a subsidiary of On Track Innovations Ltd. (NASDAQ:OTIV), announced today it has signed a 20-year contract to help manage the parking operations for Elbasan, a city in central Albania. PARX will work with its Albanian partner, TIS Ltd., on the project, which is that nation’s first paid parking solution.
The agreement includes general and financial management services, parking fees collection, enforcement, an advanced permit system and customer support. At its inception, the contract includes approximately 4,000 managed parking spaces, a number that is expected to increase during the term of the project.
'Our work in Albania is part of our continuing strategy of entering long-term public/private partnership contracts for municipal parking management, said Ofer Tziperman, CEO of both oti and PARX. PARX’s unique parking technology, EasyPark™, allows us to provide municipalities with an unequal value proposition in a market which we expect to exhibit spectacular growth in the very near future.
We are excited about the Elabasan project and our collaboration with PARX, said Bashkim Shall, general manager for TIS. We plan to expand this operation to additional cities in Albania over the coming months and years.
We introduced EasyPark 15 years ago in Israel, and we’ve sold more than 850,000 in-vehicle parking meter devices to date. In Israel, EasyPark is implemented in more than 45 cities where it has help collect more than $150 million in parking fees. Tziperman added. We have high expectations from the Albanian market representing the significant potential of new and emerging greenfield markets. The unique combination of our in-vehicle parking meter together with our new complementary EasyPark Mobile solution will allow us to provide the best service to both municipalities and drivers in Albania, Tziperman added.