ROSH PINNA, Israel, Aug. 7,
2018 /PRNewswire/ -- On Track Innovations Ltd. (OTI)
(NASDAQ: OTIV), a global provider of near field communications
(NFC) and cashless payment solutions, has announced their partner,
Apriva, a technology company providing an adaptive platform for
omnichannel payments and secure mobile communications, has
published a white paper titled, "OTI Brings Diverse Cashless
Payment Solutions," which affirms the ongoing partnership for
deploying next-generation self-serve and vending technologies.
![On_Track_Innovations_Logo On_Track_Innovations_Logo](https://mma.prnewswire.com/media/520230/On_Track_Innovations_Logo.jpg)
Apriva enables broad acceptance for attended and unattended
payments, including off-the-shelf EMV solutions. OTI's continued
collaboration with Apriva facilitates the production of an adaptive
platform for omni-channel payments and secure mobile
communications. This pre-integrated payment solution services the
ever-growing unattended payments kiosk market. According to a
recent white paper by Frank Meyer
titled, "The Present-Day Kiosk and Its Benefit to Today's
Consumer," the self-serve kiosk industry grew over 17% in 2017 and
generated over $7.8 billion in annual
sales.
"The OTI and Apriva cashless payments solution was the perfect
choice for us," said Renee Smith,
President and CTO of Parking BOXX. "The flexibility to manage both
our EASE and CloudEASE portfolios with the same SDK, combined with
the efficiency of an off-the-shelf, pre-certified EMV solution not
only gave Parking BOXX a time-to-market advantage but also saved us
the cost of months of integration and certification."
The OTI/Apriva payment solution supports magnetic stripe reader
(MSR) transactions, as well as EMV contact and contactless
transactions with Elavon as the processing platform. This allows
secure real-time, end-to-end data encryption and uses the industry
standard, derived unique key per transaction (DUKPT) encryption
method, without the cardholder's card data stored. The Interactive
Self-Service OTIKiosk Payment solution is available in the U.S.
through the Las Vegas-based
distributor, Unattended Card Payments Inc.
"OTI's best in its class payment solution, combined with
Apriva's adaptive payment platform, brings our customers unmatched
value, flexibility and ease of integration, saving thousands of
dollars and many months in development time and certification
costs," said Bill Gostowski, Vice
President of Business Development at OTI America Inc. (a wholly
owned subsidiary of OTI).
About Apriva
Formed in 2003, Apriva is a technology company providing an
adaptive platform for secure mobile communications and omnichannel
payments. The company's mobile-first technologies meet the exacting
security and reliability requirements of financial services
providers, commercial enterprises, government entities, public
service sectors, and independent sales organizations. Through its
two operating groups, Apriva Payments and Apriva Mobile Security,
the company offers fully-managed, end-to-end security solutions
supporting commerce and communications. For more information,
please visit www.Apriva.com.
About OTI
On Track Innovations (OTI) is a global leader in the design,
manufacture, and sale of secure cashless payment solutions using
contactless NFC technology with an extensive patent and IP
portfolio. OTI's field-proven innovations have been deployed around
the world to address cashless payment and management requirements
for the Internet of Payment Things (IoPT), wearables, automated
retail and petroleum markets. OTI distributes and supports its
solutions through a global network of regional offices and
alliances. OTI is the proud recipient of the 2017 AI Award for Best
Cashless Payment Solutions Provider – Israel. For more information, visit
www.otiglobal.com.
Safe Harbor for Forward-Looking Statements
This press release may contain 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
"expect," "anticipate," "intend," "plan," "estimate," "predict,"
"likely," "should," "could," "may," "will," "future" or similar
expressions, we are making forward-looking statements. For example,
we are using forward-looking statements when we discuss our
expectations regarding our growth or profitability, continued
collaboration with Apriva facilitates the production of an adaptive
platform for omni-channel payments and secure mobile
communications, reduction of costs and expenses, expected
divestitures, plans for our existing and new products and services,
penetration of new markets and securing new customers, expectations
regarding certain markets growth, and deliver long-term shareholder
value. 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, 2016, 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
reader is cautioned not to place undue reliance on forward-looking
statements.
Apriva contact:
Michael
Jones - Apriva
+1 480-421-1232
mjones@apriva.com
Investor Relations:
MZ North America
Greg Falesnik
Managing Director
Main: 949-385-6449
greg.falesnik@mzgroup.us
www.mzgroup.us
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SOURCE On Track Innovations Ltd. (OTI)