SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

April 04, 2016 08:31 ET

oti Selects Valinso as Exclusive Distributor to Netherlands and Flanders Markets

ROSH PINA, ISRAEL--(Marketwired - Apr 4, 2016) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment systems, has appointed Valinso B.V. as its exclusive distributor of NFC-based readers and payment solutions to the markets of The Netherlands and Flanders, the northern half region of Belgium.

Founded in 2010, Netherlands-based Valinso is a leading service provider of telemetry and cashless payments systems to the Netherlands and Flanders vending markets. Valinso will distribute oti's machine-to-machine (M2M) vending telemetry solution, otiMetry, which includes the SATURN 6500 TRIO 3-in-1 NFC-based cashless reader and CONNECT 3000 controller, to Valinso's customer base of vending operators. otiMetry will provide Valinso's customers with an affordable end-to-end solution to manage and support the entire vending business lifecycle management process.

"Valinso marks the fifth major distributorship we have secured this year," commented Eran Bar, oti sales manager for the Europe, Middle East, Africa (EMEA) region. "In fact, our solutions are now distributed in three of the six largest vending markets in Europe, with The Netherlands having the highest penetration of vending machines per person. Our strategic partnerships with leading distributors like Valinso will be instrumental in establishing oti's technology as the standard for vending payment solutions in the European region."

About Valinso B.V
Valinso is a leading telemetry and payment systems supplier to the vending market in The Netherlands and Flanders markets. Valinso provides servitization solutions to various industries. For more information, visit www.valinso.nl.

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.

Safe Harbor for 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. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, reduction of costs and expenses, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, contributions of our regions to our growth, resolution of our outstanding patent infringement claims, strengthening of our balance sheet and delivery long-term shareholder value. 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, 2015, 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

  • Valinso B.V. Contact:
    Uithof 5
    Wijk en Aalburg
    4261 LN
    The Netherlands
    +31 (0)6 51 67 97 02
    Email Contact

    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