SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

February 29, 2016 08:31 ET

oti Selects Vendea as Exclusive Distributor to the Slovakian and Czech Republic Markets

ROSH PINA, ISRAEL--(Marketwired - Feb 29, 2016) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment systems, has appointed Vendea, s.r.o. as its exclusive distributor of NFC-based payment solutions to the Slovakian and Czech Republic markets.

Based in Bratislava, Slovakia and founded in 2004, Vendea is a leading distributor and operator of unattended machines, including vending, beverage dispensers, and supplies throughout Slovakia. Vendea distributes for leading manufacturers, including Philips Saeco, Sanden Vendo, and others.

Vendea will embed oti's otiMetry vending telemetry solution, which includes the SATURN 6500 TRIO 3-in-1 NFC-based cashless reader and CONNECT 3000 controller, into Vendea's installed base and future manufactured vending machines. otiMetry makes any vending operation smart and interactive by uniquely incorporating telemetry, sales, operations, and marketing into an affordable solution with real-time management capabilities.

"Vendea marks our entrance into the dynamic and growing Slovakian Czech unattended markets," said Eran Bar, oti sales manager for the Europe, Middle East, Africa (EMEA) region. "It also represents our approach to build a pan European distributors network with an intelligent solution for the unattended market. This is a key element of our plan to cost-effectively accelerate our growth by leveraging global partnerships and worldwide distribution channels to further penetrate existing markets, as well as enter new ones, like Slovakia."

About Vendea s.r.o
Founded in 2004, Vendea, s.r.o. is a leading distributor of vending machines and payment systems to the Slovakian market. It provides complete end-to-end vending services to vending operators in a range of industries. For more information, visit www.vendea.sk.

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

  • Vendea Contact:
    Kukucinova 1000/52
    831 03 Bratislava
    SLOVAKIA +421 903 542 893
    +421 915 742 891
    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