ROSH PINNA, Israel, Nov. 6,
2018 /PRNewswire/ -- On Track Innovations Ltd. (OTI)
(NASDAQ: OTIV), a global provider of near field communication (NFC)
and cashless payment solutions, has partnered with Almex Transport
Solutions ticketing machines for the George Municipality Western
Cape Government to implement the Go GEORGE Smart Cards, a "smart
card" solution for South Africa's
public transportation system which will replace the paper ticketing
system currently used on buses in the region.
The project, called The George Integrated Public Transport
Network (GIPTN), is aimed at launching a new and improved public
transport system for South Africa.
OTI's wholly owned subsidiary, OTI Africa, will supply
ultra-intelligent OTI TRIO cashless
readers that will register the fare upon boarding the bus via
contactless NFC technology, which inevitably will save much-needed
time for public transport scheduling, as well as eliminating the
need for correct cash change and cleaning up the paper tickets
waste problem.
"This new partnership to assist in the implementation of a
'smart card' program in South
Africa is meaningful, as it marks our second entrance into
the payment market in South
Africa," said Shlomi Cohen,
CEO OTIGlobal. "We are confident that our TRIO cashless readers
will help ensure a smooth transition and greatly benefit those
using public transportation in the region."
GO GEORGE Smart Cards will be issued and facilitated by the
Standard Bank, whereby cardholders can load trips in different
packages and fare categories onto the card at Smart Card kiosks,
registered by GO GEORGE Smart Card top-up vendors and participating
Standard Bank vendors such as supermarkets, self-service kiosks,
petrol stations, and restaurants.
"GO GEORGE is proud to announce
the implementation of the long-awaited GO GEORGE Smart Card,
resembling a flexible bank card and replacing the awkward paper
ticket system," said James Robb, GO
GEORGE Manager. "The service will be available on starting
November 15th, and OTI is
providing a critical component to ensure a successful launch."
About Go George
The George Integrated Public Transport Network (GIPTN) is a
project aimed at launching a new and improved public transport
system for George and surrounding areas. GO
GEORGE is operated by the public transport operators with
existing services in the George area. The first trial phase
launched on 8 December 2014, with
routes rolling out in phases over the following months. The aim is
to provide a quality public transport service that is reliable,
affordable, safe, convenient and accessible, and contributes to a
better quality of life for all. Visit:
http://www.gogeorge.org.za/
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. 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 / 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. Any statements that are not
statements of historical fact should be considered forward looking
statements. Whenever we use words such as "will," "anticipate,"
"intend," "look-forward," "can," "may" or similar expressions, we
are making forward-looking statements. For example, we are using
forward-looking statements when we discuss, among others: our plans
for the future, our plans for continued sales, our expectations
regarding future product launches and growth into new markets, our
ability to attract or retain customers, increases our footprint in
key markets and our expectation of bringing tremendous value to our
industry while generating predictable, high-margin, recurring
revenues for the Company and great value for our shareholders.
Forward-looking statements are made as of the date of this document
and are inherently subject to risks and uncertainties which could
cause actual results to differ materially from those in the
forward-looking statements. Additional factors that could cause
actual results to differ materially from those anticipated by our
forward-looking statements are stated under the captions "Risk
Factors" in our most recent Annual Report (Form 10-K) and other
known and unknown uncertainties and risk factors including those
detailed from time to time in the Company's filings with the
Securities and Exchange Commission. Forward-looking statements are
made as of the date of this release, and we expressly disclaim any
obligation or undertaking to update forward-looking statements. The
reader is cautioned not to place undue reliance on forward-looking
statements.
Investor Relations Contact:
Greg Falesnik
MZ North America
+1-949-385-6449
Greg.Falesnik@mzgroup.us
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