OTI Presents Saturn 5000 Reader with Enhanced Features to Support Multiple Application Programs at ETA Annual Meeting in Las Ve
April 18 2006 - 3:00AM
PR Newswire (US)
Ohad Bashan, Chief Marketing Officer Presents on Thursday, April 20
FORT LEE, N.J., April 18 /PRNewswire-FirstCall/ -- On Track
Innovations Ltd., (OTI) (NASDAQ:OTIV), a global leader in
contactless microprocessor-based smart card solutions, for homeland
security, payments, petroleum payments and other applications,
today announced that it will be presenting at the ETA Annual
Meeting and Expo on April 18-20 at the Mandalay Bay Resort and
Casino, Las Vegas, Nevada. In Booth 814, OTI will demonstrate its
range of smart card solutions with special focus on Payments --
cashless solutions for small ticket items including reader
solutions for quick upgrade of POS terminals and card solutions in
a variety of form factors. Ohad Bashan, Chief Marketing Officer and
President of OTI America will be presenting on Thursday, April 20
at 1:00PM on "It's Here, It's Fast, and It's Catching On --
Contactless Payments." OTI's Saturn 5000 contactless reader has
received certification from major financial institutions to support
multiple contactless payment programs, as well as multiple
applications programs. The Saturn 5000 is approved for use in
MasterCard's PayPass(TM), Visa contactless program and ExpressPay
from American Express. The enhanced features offered by the Saturn
5000 allow for faster transactions and the ability to support
multiple application programs and other programs for mass transit
ticketing, MIFARE, and more. The Saturn 5000 is designed to allow
quick upgrades of existing POS terminals to accept contactless
payments, with the reader facing the customer for easier payment
experience. The Saturn 5000 can support multiple payment
applications and is currently compatible with the major POS
terminal providers and acquirers. Supporting the major contactless
payment programs, the software integrated in the Saturn 5000 can
read a variety of sources including credit cards and key fobs. OTI
also offers OEM solutions that can be integrated into payment
terminals. About OTI Established in 1990, OTI (NASDAQ:OTIV)
designs, develops and markets secure contactless
microprocessor-based smart card technology to address the needs of
a wide variety of markets. Applications developed by OTI include
product solutions for petroleum payment systems, homeland security
solutions, electronic passports and IDs, payments, mass transit
ticketing, parking, loyalty programs and secure campuses. OTI has a
global network of regional offices to market and support its
products. The company was awarded the Frost & Sullivan 2005
Company of the Year Award in the field of smart cards. For more
information on OTI, visit http://www.otiglobal.com/. This press
release contains forward-looking statements. Such statements are
subject to certain risks and uncertainties, such as market
acceptance of new products and our ability to execute production on
orders, which could cause actual results to differ materially from
those in the statements included in this press release. Although
OTI believes that the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it
can give no assurance that its expectations will be achieved. 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
otherwise. results could differ materially from expected results.
OTI undertakes no obligation to update forward-looking statements
to reflect subsequently occurring events or circumstances. OTI
Contact: Media Relations Galit Mendelson Adam Handelsman Director
of Corporate Communications 5W Public Relations 201 944 5200 ext.
111 212 999 5585 DATASOURCE: On Track Innovations Ltd. CONTACT:
Galit Mendelson, Director of Corporate Communications of OTI,
+1-201-944-5200 ext. 111, ; Media Relations: Adam Handelsman of 5W
Public Relations, +1-212-999-5585, , for OTI Web site:
http://www.otiglobal.com/
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