SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

September 10, 2014 08:31 ET

oti Offers Unique NFC and Cashless Payment Solutions for Earlier-Generation Apple iPhones

ROSH PINA, ISRAEL--(Marketwired - Sep 10, 2014) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, is piloting its new WAVE and NFC Insert mobile add-on devices with several banks and mobile network operators as the ideal way to add NFC payment capabilities to Apple iPhone 4, 4s, 5, 5s and iPad devices.

Apple's launch of the NFC-enabled iPhone 6, iPhone 6 Plus and Apple Watch yesterday provided a tremendous boost to the increasing wide-scale adoption of NFC technology. Apple now finally joins the ranks of mobile device companies like Samsung, HTC, LG, Motorola, Nokia, and Amazon that offer NFC-enabled Smartphones.

Along with the iPhone 6, Apple has rolled out its new mobile operating system, iOS 8, which, like Android, BlackBerry and Windows, supports NFC functionality and enables various secure mobile payment options. oti's WAVE audio-jack plug-in device is a cost-effective solution that turns earlier-generation iPhones and iPads into NFC-enabled payment devices, and has received certification from major payment companies, including Visa® and MasterCard®.

Using the oti WAVE solution, card issuers, handset original equipment manufacturers, and mobile operators are able to offer NFC-enabled mobile payment solutions to new and existing iPhone models.

The secure element of oti's WAVE device connects to a Smartphone's operating system via the audio jack, allowing PIN code authentication and secure over-the-air (OTA) provisioning capabilities, including loading of card data, reloading electronic cash, remote personalization, firmware updates, and the ability to add new secure applets.

WAVE runs on a Java-based software over a secure element and provides open application interfaces (API) for third-party development. It supports multi-applications for payment, credit, debit and pre-paid cards, loyalty, healthcare, access control and security, all on the same device. WAVE can also work independently from the iPhone for making quick payments like at mass transit turnstiles. WAVE is currently commercially deployed at various global financial institutions, and is in pilot deployments with mobile operators and mass transit providers.

oti's NFC Insert is another off-the-shelf NFC-enablement solution comprised of a thin film NFC antenna that connects to the iPhone operating system via the SIM card. The antenna folds onto the backside of the iPhone where it is protected by any standard case. Several mobile operators around the world are currently piloting this cleverly unobtrusive NFC add-on.

"With the launch of Apple's iPhone 6, the oti WAVE becomes the leading cost-effective solution for existing iPhone and iPad models that enables secure NFC payment transactions," said oti's CEO, Ofer Tziperman. "Apple's adoption of NFC technology is a strong validation of our long-term vision and investment in NFC technology, as well as that of our partners and business customers."

"We expect Apple's NFC-equipped iPhone 6 and Apple Watch will drive stronger demand for our NFC readers in the unattended and self-service market," continued Tziperman. "We remain ideally positioned in this growing market with the most comprehensive and cost-effective solutions, which are certified by all major payment card associations."

At a time when the industry's need for highly secure transactions is paramount, oti's WAVE can be also used as a second layer of secure authentication for access to cloud-based accounts, as well as a form of authentication for authorizing Internet shopping payment transactions.

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

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.

Contact Information

  • Investor Contact:
    Scott Liolios or Matt Glover
    Liolios Group, Inc.
    Email Contact

    Press Contact:
    Inbar Ben-Hur
    oti Marketing Communication Manager
    Email Contact