OTI America to Exhibit EasyPark Patented Integrated Information and Payment System at the IPI Conference & Expo
June 11 2012 - 11:24AM
- EasyPark is a unique system to automatically link
between a specific parking space and payment device, providing
cities with real-time utilization of the city real estate and
parking management
- EasyPark provides cities with the ability to implement
a modular, cost effective solution with minimum
investment
- EasyPark provides closed campuses with a single,
programmable, electronic parking solution, to meet all permit and
pay-for-parking requirements
- The EasyPark system will be presented at the IPI
Conference & Expo in Phoenix, Arizona, June 11-13, 2012 booth
303
OTI America Inc., a subsidiary of On Track Innovations Ltd. ("OTI")
(Nasdaq:OTIV) announced today the company will exhibit at the 2012
International Parking Institute Conference & Expo in booth 303,
June 11-13, 2012 at the Phoenix Convention Center, Phoenix,
Arizona.
OTI America will demonstrate the newly designed EasyPark™
parking information and payment system. The new system is designed
to provide municipalities and closed campuses with an end-to-end
solution for all their information and payment needs revolving
around parking payment. The system was designed and built taking
into consideration the budget constraints of municipalities and
universities, allowing for cost-effective modular implementation.
At the center of the system is the EasyPark in-vehicle device
providing the most cost effective and secure payment for parking
solution to date. EasyPark is communicating with supporting
information systems to provide real-time data for the driver and
parking authority.
EasyPark is a unique offering where various parking technologies
are fully integrated to form one comprehensive parking solution.
With this solution, each driver can choose his preferred payment
method, and can receive additional complementary services and
information directly via his mobile phone.
The system, based on extensive patent and IP portfolio, allows
for accurate automatic identification of vehicle and parking space,
without the need to leave the vehicle, thus providing cities and
drivers key new functionalities such as, among others:
- Real Time occupancy – Patented system to manage real-time
parking occupancy info as well as automatic cost effective
settlement of payment, allowing cities optimal utilization of their
real estate, dynamic parking rates and efficient enforcement
- Guidance to available parking spot – Assisting drivers in
locating an available parking space near their destination
- Mobile phone services – A state of the art pay-by-phone
parking service with various mobile input methods (smartphone app,
text messages (SMS) and voice)
- Off-street parking – enables automatic access and
payment at private and public parking lots
EasyPark is ideal for closed campuses, providing a single,
programmable, electronic parking solution to meet all permit and
pay-for-parking requirements. The EasyPark can be assigned to
students, faculty and staff for permit parking in designated areas.
EasyPark can also be used for paying hourly rates in other parts of
the campus as well as in adjacent towns, if accepted by the
municipality.
About On Track Innovations Ltd.
(www.otiglobal.com)
On Track Innovations Ltd. ("OTI") designs,
develops and markets ID-credentialing, payment and loyalty
applications based on its extensive patent and IP portfolio. OTI
combines standards-compliant and state-of-the-art, contactless
microprocessor-based technologies and enabling hardware with
proprietary software applications to deliver high performance,
end-to-end solutions that are secure, robust and scalable. OTI
solutions have been deployed around the world to address homeland
security, national ID, medical ID, contactless payment and NFC
solutions, loyalty applications, petroleum payment, parking and
mass transit ticketing. OTI markets and supports its solutions
through a global network of regional offices and alliances.
The On Track Innovations Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5736
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 "will", "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 America's
and/or OTI's current expectations, and not on factual events, they
are subject to various risks and uncertainties and actual results,
performance or achievements of OTI America and/or OTI could differ
materially from those described in or implied by the statements in
this press release. For example, forward-looking statements include
statements regarding our goals, beliefs, future growth strategies,
objectives, plans or current expectations from our new parking
solutions, their introduction into the market and/or the
implementation of our current and new EasyPark system
features. Forward-looking statements could be
impacted by market acceptance of new and existing products and our
ability to execute production on orders at any specific time, as
well as other risk factors that may influence the market, which are
beyond the company's control discussed, among others,
in OTI's Annual Report on Form 20-F for the year ended
December 31, 2011, which is on file with the Securities and
Exchange Commission. Although OTI America and OTI believe that the
expectations reflected in such forward-looking statements are based
on reasonable assumptions, they can give no assurance that its
expectations will be actually achieved. Except as otherwise
required by law, OTI America and/or 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 websites or website links mentioned or provided
herein are not part of this press release.
CONTACT: OTI Contacts:
Galit Mendelson
VP, Corporate Relations
On Track Innovations Ltd. (OTI)
732 429 1900 ext. 111
galit@otiglobal.com
Jay M. Meier
SVP, Business Development & Investor Relations
OTI America, Inc.
732 429 1900 ext. 104
jaym@otiglobal.com
Investor Relations:
Todd Fromer / Garth Russell
KCSA Strategic Communications
212-896-1215 / 212-896-1250
tfromer@kcsa.com /grussell@kcsa.com
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