SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

May 16, 2016 08:31 ET

oti Introduces Revolutionary PayCapsule-Flex Payment Enabler Inserts for Fashion, Wearables and Devices

ROSH PINA, ISRAEL--(Marketwired - May 16, 2016) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment systems, has introduced the global availability of PayCapsule-Flex, one of the smallest payment cards globally. The PayCapsule-Flex payment enabler inserts are designed to turn existing products and fashion garments into payment devices and wearables with Internet of Things (IoT) capabilities.

oti's new PayCapsule-Flex is paper-thick thin and available in various sizes ranging from 12x40 mm (0.47" x 1.57") to 15x65 mm (0.59" x 2.5"). PayCapsule-Flex is made of highly durable yet flexible materials, making it extremely light-weight, bendable, machine washable, as well as water resistance up to 90° Celsius (194° Fahrenheit).

PayCapsule-Flex incorporates the latest NXP SmartMX2 P60 secure microcontroller platform offering advanced security features and high performance due to its powerful co-processors. Combined with oti's technology and advanced antenna design, the new PayCapsule-Flex offers excellent radio frequency (RF) levels and contactless reception.

The new PayCapsule-Flex is offered as part of oti's PayEnable™ platform, targeting both traditional and trendy wearables manufacturers seeking to include both IoT and payment capabilities into their products. The PayEnable platform provides manufacturers with a convenient "one-stop-shop" offering that covers the entire system and services infrastructure required to turn their products into payment devices, relieving them of the need to develop and manage relationships with banks, issuers, and other service providers.

The new PayCapsule-Flex units are available for immediate delivery.

About oti
On Track Innovations Ltd. (oti) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. oti's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. oti markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.

Contact Information

  • oti Investor Contact:
    Scott Liolios or Matt Glover
    Liolios Group, Inc.
    949-574-3860
    Email Contact

    oti Press Contact:
    Neil Barr
    Director of Marketing
    +972-4-686-8004
    Email Contact

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