SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

October 30, 2014 08:31 ET

oti Launches Uno, the Industry's Most Compact Multi-Purpose NFC Payments Reader

Uno Enables NFC Capability for Existing POS Terminals and Unattended and Self-Serve Machines

ROSH PINA, ISRAEL--(Marketwired - Oct 30, 2014) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has introduced "Uno," a ultra-compact, multi-purpose NFC reader for contactless payments, such as with Apple Pay, Softcard, and the company's WAVE device.

oti will present Uno at the CARTES Exhibition in Paris on November 4-6 in booth #4M 098, as well as at Money 20/20 in Las Vegas on November 2-5 in booth #101.

With an ultra-compact form factor and a rich feature set, Uno is the ideal solution for meeting the complete range of NFC cashless payment industry requirements. The reader, which is in the certification process by the major card associations, was designed specifically for attended and unattended retail environments. Uno's unique form-factor and features enables easy integration and installation in unattended self-service payment stations, including ATMs, add value machines, ticket vending machines, gaming and gambling machines, kiosks, access control, mass transit gates and more.

The reader's plug-and-play design makes it easy to connect to existing payment infrastructure and point-of-sale terminals, instantly upgrading them to seamlessly accept contactless cards and NFC-based mobile payments from Apple Pay and Softcard. Uno also has the option to be USB-powered, which facilitates easy installation and maintenance.

"With the Uno, we were able to apply our deep industry experience and patented NFC technology to develop the industry's most compact NFC reader, while meeting the strictest payment certification requirements," said oti CEO, Ofer Tziperman. "Uno's unique design, ease of installation and competitive price point creates the perfect solution for the retail industry that is undergoing a contactless mobile payments revolution."

"Uno opens large global markets for us," continued Tziperman. "Following the launch of Apple Pay, we see accelerating demand in the market for advanced and cost-effective NFC readers for the unattended and self-serve markets, as well as for the countertop attended market. And we've already hit the ground running with Uno, with strong interest and demand for the device coming from several major prospective customers who have been allowed a sneak preview." 

Uno uses oti's patented matched antenna technology, and contains an onboard SAM connector allows the reader to access internal or external security elements like a Mifare Authentication SAM. The reader is also compatible with the major industry standards, including FCC, CE, UL, RoHS, ISO 9001: 2008, ISO/IEC 14443 Proximity Type A&B, ISO/IEC 15693 Vicinity, Mifare, MasterCard TQM label and IP65.

For a full list of Uno's specifications, go to www.otiglobal.com/our-products/oti-uno.

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.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. Because such statements deal with future events and are based on oti's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of oti could differ materially from those described in or implied by the statements in this press release. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2013, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Except as otherwise required by law, oti disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise. The content of the web site links in the PR do not form part of it.

Contact Information

  • oti Investor Contact:
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    oti Marketing Communication Manager
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