Heartland Payment Systems Selects OTI Contactless Payment Solution to Deploy New Student Payment Card
October 29 2007 - 7:00AM
PR Newswire (US)
OTI Provides Contactless Smart Stickers for Cell Phones and Readers
FORT LEE, N.J., Oct. 29 /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, has
been selected by Heartland Payment Systems, (NYSE:HPY), a leading
provider of credit/debit/prepaid card processing, payroll and
payment services, to provide universities, students and merchants
with a unique and innovative solution of making -- and accepting --
contactless payments by cell phone. Heartland has completed the
first full deployment at Slippery Rock University in Slippery Rock,
PA. As part of Heartland's new micro-payments solution, students,
faculty and staff at Slippery Rock University received OTI's
contactless smart sticker designed for use with mobile phones. The
smart sticker on the phone enables payment at on-campus locations
including campus vending machines, laundry facilities, photocopiers
and printers, as well as at participating merchant locations in the
surrounding community. Payments by cell phone are enabled by OTI's
contactless Smart Sticker. The sticker is an entirely
self-contained, contactless payment device that adheres to multiple
surfaces including mobile phones, PDAs and more. Payments are made
by placing the smart sticker a few inches away from OTI's Saturn
6000 contactless reader. The Saturn 6000 contactless reader is a
leading cost-to- performance contactless reader in the market
today, certified by the major financial institutions. Oded Bashan,
Chairman and Chief Executive Officer of OTI commented: "The
Heartland program offers students, faculty and staff convenience,
speed and security. OTI's Smart Sticker solution combines two
global trends: the growing use of mobile phones and the growing
popularity of contactless payment technology. Students present a
lucrative market that adopts advanced solutions." 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 and 2006 Company of the
Year Award in the field of smart cards. About Heartland Payment
Systems Heartland Payment Systems, Inc., a NYSE company trading
under the symbol HPY, delivers credit/debit/prepaid card
processing, payroll and payment solutions to more than 150,000
small and mid-sized businesses nationwide Heartland is the founding
supporter of The Merchant Bill of Rights, a public advocacy
initiative that educates merchants about fair credit and debit card
processing practices. For more information on Heartland Payment
Systems, visit http://www.heartlandpaymentsystems.com/, the content
of which is not part of this press release. For more information on
OTI, visit http://www.otiglobal.com/, the content of which is not
part of this press release. Safe Harbor for Forward-Looking
Statements: This press release contains forward-looking statements
within the meaning of the "safe harbor" provisions 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 forwardlooking 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. For example, forwardlooking statements include
statements regarding our goals, beliefs, future growth strategies,
objectives, plans or current expectations, such as those regarding
the superiority of the Saturn 6000. Forward-looking statements
could be impacted by market acceptance of new and existing products
and our ability to execute production on orders, as well as the
other risk factors discussed in OTI's Annual Report on Form 20-F
for the year ended December 31, 2006, which is on file with the
Securities and Exchange Commission. 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. 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. OTI Contact: Investor Relations Galit
Mendelson Miri Segal Director of Corporate Communications Strategic
Growth International 201 944 5200 ext. 111 212 838 1444 DATASOURCE:
On Track Innovations Ltd. CONTACT: Galit Mendelson, Director of
Corporate Communications of OTI, +1-201-944-5200, ext. 111, ; or
Investors, Miri Segal of Strategic Growth International,
+1-212-838-1444, Web site: http://www.otiglobal.com/
http://www.heartlandpaymentsystems.com/
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