SOURCE: On Track Innovations Ltd.

On Track Innovations Ltd.

April 02, 2015 08:31 ET

oti's New CONNECT 3000 Telemetry Controller Expands Vending and Self-Serve Market Offering

CONNECT 3000 Enables Variety of M2M Communication Methods and Ability to Bundle With Any oti Cashless Payment Reader

ROSH PINA, ISRAEL--(Marketwired - Apr 2, 2015) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has released CONNECT 3000, a new telemetry controller device.

oti's CONNECT 3000 telemetry unit is a compact, cost effective, and highly modular machine-to-machine (M2M) controller. CONNECT 3000 is designed to enable communication between machines, particularly vending machines, kiosks and meters, via various optional communication methods. The primary onboard communication channel options include cellular 3G data communication, SMS and Ethernet. The device also allows for other communication methods, like WiFi, Bluetooth, ZigBee and more, via a mini USB socket.

With a wide variety of communication interfaces and a robust software development kit (SDK), CONNECT 3000 is the ultimate M2M controller for enabling real-time clearing of cashless payments, and remote inventory control and maintenance information.

In addition to compatibility with oti's UNO and TRIO payment readers, CONNECT 3000 also offers physical and logical implementation for vending machine specific interfaces, like Multi Drop Bus (MDB) and Data Exchange (DEX).

"CONNECT 3000 is a complementary solution to our TRIO and UNO readers, and provides significant upscale opportunities for customers who use the two devices together," said Ofer Tziperman, CEO of oti. "Its attractive and competitive price-per-performance makes the CONNECT 3000 one of the best solutions of its kind."

"CONNECT 3000 allows us to expand within our existing customer base," added Tziperman, "as well as open up new global markets."

CONNECT 3000 can collect and transmit to the operator inputs from different components of the vending or self-serve machine, including sensors, all types of serial payment acceptance devices (e.g., readers), security devices (e.g., PIN pads), and data collection devices (e.g., barcode scanners). These inputs can include inventory events, security and anti-vandalism events, and transaction events.

CONNECT 3000 has a built-in operating system with a rich application program interface (API) that serves as a platform for the development of host applications. The CONNECT 3000 SDK includes source code for many of the product's software blocks that can facilitate the rapid development of host applications for the unit processor.

CONNECT 3000 also provides the benefits of Internet connectivity (IoT) between vending, meters and service machines and their respective backend information management systems, which in turn can distribute information to the machine operator or other parties. For example, a beverage vending machine located in the lobby of a multi-floor building can utilize a Twitter or Facebook account through CONNECT 3000 to inform the residents of the building (per their choice) about machine-related events, such as price changes, inventory levels, transaction failures, as well as availability of the machine or products.

Since the unit can be connected to different parts of the machine and can aggregate information from a variety of devices, it can deliver a report to a user's Smartphone about their purchase history or nutrition facts about the product they purchased.

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, 2014, 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.

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Contact Information

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