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Saturn 5000 Contactless Reader Receives Approval by Major Contactless Payment Programs in the US
FORT LEE, NJ -- (MARKET WIRE) -- 07/18/05 -- On Track Innovations, Ltd. (OTI) (NASDAQ: OTIV) (Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions, for homeland security, payments, petroleum payments and other applications, today announced that its Saturn 5000 contactless reader has received certification from Visa USA to support its contactless payment program. The Saturn 5000 has already received certification by major US financial institutions.
Visa, along with MasterCard and American Express, has already announced that they are in different stages of implementation for contactless payment programs. Recently, 7-Eleven, CVS and others have announced plans to deploy contactless readers in test markets nationwide.
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.
"The Visa contactless payment program certification for the Saturn 5000 and recent advancements in contactless payments in the US demonstrate the great growth potential in this market," said Oded Bashan, President and CEO of OTI. "The Saturn 5000 multi-approval status combined with its small counter space 'footprint' makes it an attractive solution to merchants accepting contactless payments."
About OTI
Established in 1990, OTI (NASDAQ: OTIV) (Prime Standard: OT5) 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 prestigious ESCAT Award for smart card innovation in both 1998 and 2000.
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.
This press release and other releases are available on www.otiglobal.com and www.portfoliopr.com
OTI Contact:
Galit Mendelson
Director of Corporate Communications
201 944 5200 ext. 111
Email Contact
Media Relations:
Adam Handelsman
5W Public Relations
212 999 5585
Email Contact
IR Contact:
Paul Holm
PMH Group
212 496 7238
Email Contact
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OTI Reports on Status of US Electronic Passport Project
Monday August 1, 10:30 am ET
FORT LEE, NJ--(MARKET WIRE)--Aug 1, 2005 -- On Track Innovations Ltd, (OTI) (NasdaqNM:OTIV - News) (Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments and other applications, said that as previously reported, OTI America, Inc. was one of several contractors that have received contract awards from the United States Government Printing Office (GPO) for the production of electronic passports. The GPO has, as required by law, issued a stop work order, effectively halting work on the program by all contractors pending a decision by the Government Accountability Office (GAO). The stop work order was issued due to a protest filed by OTI regarding the evaluation of its product by the GPO with the GAO. The GPO's motion to dismiss the protest was denied by the GAO. Should the GAO rule in OTI America's favor, OTI, along with the other contractors, will continue work when the program resumes. (The contracts include several stages, running from testing and evaluation stages through production stages. OTI America successfully protested an earlier evaluation decision by the GPO at the outset of the program.)
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According to Oded Bashan, President & CEO, "OTI is confident in the superiority of its technology and product. We are therefore hopeful of being selected as a supplier of electronic passports to the US Government. We look forward to a prompt and a favorable decision. It should also be noted that the US Government electronic passport program is but one of many projects in which we are currently involved and as such, we have not included it in our financial projections."
About OTI
Established in 1990, OTI (NASDAQ: OTIV, Prime Standard: OT5) 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, micro 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 prestigious ESCAT Award for smart card innovation in both 1998 and 2000. For more information on OTI, visit www.otiglobal.com.
This press release contains forward-looking statements. Such statements, which include statements concerning the future of OTI's role in the electronic passport program, 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.
This press release and other releases are available on www.otiglobal.com and www.portfoliopr.com.
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OTI Subsidiary EasyPark's Contract for Nationwide Parking System Extended for Five More Years
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On Track Innovations Ltd (OTI) (NASDAQ: OTIV) (Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security and payments, today announced that The Union of Local Authorities in Israel has extended its contract for the successful EasyPark program for an additional five years. EasyPark is expected to reach 250,000 subscribers by the end of the third quarter, and is currently in use in 26 cities across the country.
The EasyPark program offers a constant stream of revenues, from both product sales as well as transaction fees. It has seen considerable growth in both areas:
-- Transaction fees for the first six months of 2005 increased by more
than 50% compared to the same period last year.
-- Approximately 7,000 new EasyPark subscribers are now joining the
program monthly, an increase of 40% compared to last year. In the first
six months of 2005, 41,000 new EasyPark devices were sold, a more than 35%
increase compare to the same period last year.
The EasyPark subscriber simply parks his car, turns on the contactless in-vehicle parking meter device displayed in the car window; and when he returns, turns the device off. This eliminates the need for parking meters, and creates a uniquely convenient user experience. The EasyPark system is used for both on-street parking payments and for parking lots, where the device is presented at the gate when entering or exiting the lot. EasyPark is sold in post offices across Israel, with loading stations available in post offices and gas stations.
With EasyPark, OTI implements its business model of generating revenues from product sales as well as transaction fees and customer support. In the first stage of deployment, most revenues are generated from setting up the infrastructure. Once a critical mass of infrastructure is in place, early adopters begin using the product routinely. Currently, EasyPark has reached a level where there is a sufficient user base to provide a constant stream of revenues. This business model of generating on-going licensing and transaction fees has also been successfully implemented by OTI in its petroleum payment product and some SmartID programs.
Oded Bashan, President and CEO of OTI, commented, "We are satisfied with The Union of Local Authorities' decision to extend EasyPark's contract and with the steadily growing number of people using the system. This project exemplifies OTI's business model. Receiving transaction fees together with product sales ensures the continuing growth of the EasyPark project."
About OTI
Established in 1990, OTI (NASDAQ: OTIV) (Prime Standard [Frankfurt]: OT5) 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, micropayments, 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 prestigious ESCAT Award for smart card innovation in both 1998 and 2000. For more information on OTI, visit 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.
This press release and other releases are available on www.otiglobal.com
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Vertrag der OTI - Tochter EasyPark für landesweites Parksystem um fünf
Jahre verlängert
Die elektronische Parkuhr im Fahrzeug wird am Ende des dritten Quartals landesweit eine
viertel Million Abonnenten haben
Fort Lee, New Jersey – 3. August 2005 – On Track Innovations Ltd, (OTI) (NASDAQ: OTIV;
Prime Standard [Frankfurt]: OT5), ein weltweit führender Anbieter von kontaktlosen,
mikroprozessorbasierten Smart-Card-Lösungen für nationale Sicherheit und Zahlungssysteme
gab heute bekannt, dass der Verband der Kommunalverwaltungen in Israel den Vertrag für das
erfolgreiche EasyPark – Programm um weitere fünf Jahre verlängert hat. Es wird erwartet, dass
EasyPark zum Ende des dritten Quartals 250.000 Abonnenten in den derzeit landesweit 26
Städten erreichen wird.
Das EasyPark – Programm bietet einen konstanten Fluss der Einnahmen aus Produktverkauf
ebenso wie aus den Transaktionsgebühren. Beide Bereiche verzeichnen beträchtliche Zuwächse:
o Die Transaktionsgebühren für die ersten sechs Monate 2005 sind um mehr als 50 %
gewachsen, verglichen mit der gleichen Periode des letzten Jahres
o Monatlich kommen etwa 7.000 neue EasyPark - Nutzer hinzu, was eine Steigerung von
40 % verglichen mit dem letzten Jahr ausmacht. Im ersten Halbjahr 2005 wurden 41.000
neue EasyPark - Geräte verkauft, eine Zunahme von mehr als 35 % verglichen mit dem
gleichen Zeitraum des letzen Jahres.
Der EasyPark-Nutzer parkt sein Fahrzeug und stellt seine kontaktlose Parkuhr im Fahrzeug ein
und platziert sie gut sichtbar im Fahrzeugfenster; bei der Rückkehr schaltet er sie einfach aus.
Das macht stählerne Parkuhren oder Ticketautomaten überflüssig und macht die Nutzung
einmalig praktisch und komfortabel. Das EasyPark-System wird zum Bezahlen auf
Straßenparkplätzen aber auch in Parkhäusern und bewachten Parkplätzen eingesetzt, wo die
kontaktlose Karte an der Schranke präsentiert wird. EasyPark wird landesweit in Israel in den
Zweigstellen der Post verkauft. Ladestationen für die EasyPark Smart Card befinden sich in den
Zweigstellen der Post und an Tankstellen.
Mit EasyPark setzt OTI sein Geschäftsmodell, Einnahmen mit Produktverkauf ebenso wie mit
Kundenunterstützung und Transaktionsgebühren zu erzielen, um. Im ersten Stadium des
Einsatzes werden die Einnahmen mit dem Aufbau der Infrastruktur verdient. Wenn die
Infrastruktur die kritische Menge erreicht hat, beginnen die ersten Kunden das Produkt
routinemäßig zu nutzen. EasyPark hat mittlerweile eine ausreichende Nutzerbasis, die einen
konstanten Fluss der Einnahmen liefert. Das Geschäftsmodell, laufende Lizenz- und
Transaktionsgebühren zu generieren, wurde auch erfolgreich im OTI Tankbezahlsystem und in
einigen SmartID - Programmen etabliert.
Oded Bashan, Präsident und CEO von OTI kommentierte: „Wir sind zufrieden mit der
Entscheidung der Union of Local Authorities, den EasyPark – Vertrag zu verlängern, und mit der
ständig steigenden Zahl von Personen, die das System nutzen. Das Projekt ist exemplarisch für
OTI’s Geschäftsmodell. Die Transaktionsgebühren zusammen mit dem Produktverkauf sichern
das kontinuierliche Wachstum des EasyPark - Projektes.“
Über OTI
Das 1990 gegründete Unternehmen OTI (Nasdaq: OTIV, Prime Standard: OT5) entwirft,
entwickelt und vertreibt sichere kontaktlose mikroprozessorbasierte Smart-Card-Technologie und
bedient mit seinen Produkten eine große Zahl unterschiedlicher Märkte. Zu den von OTI
entwickelten Anwendungen gehören Tankabrechnungssysteme, Lösungen im Bereich Nationale
Sicherheit, elektronische Reisepässe und Personalausweise, Micropayment, Electronic Ticketing
für den Öffentlichen Personennahverkehr, Parksysteme, Kundenbindungssysteme und
Campussysteme. OTI unterhält ein weltweites Netz von Vertriebs- und Kundendienstbüros. Das
Unternehmen wurde 1998 und 2000 mit dem renommierten ESCAT-Award für die innovativste
Entwicklung im Bereich der Smart-Card-Technologie ausgezeichnet.
Weitere Informationen finden Sie unter: www.otiglobal.com
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OTI Grants BP a Worldwide License to Enable Expansion Beyond Africa
FORT LEE, NJ -- (MARKET WIRE) -- 09/13/05 -- On Track Innovations Ltd, (OTI) (NASDAQ: OTIV) (Prime Standard [Frankfurt]: OT5) today announced that BP Africa, a division of BP p.l.c., has extended and expanded its relationship with OTI. In addition, OTI has granted BP a worldwide license for its petroleum payment solution. OTI is a global leader in contactless microprocessor-based smart card solutions, for homeland security, payments, petroleum payments and other applications. BP p.l.c. engages in oil and natural gas exploration, and field development and production, as well as in the management of crude oil and natural gas pipelines, processing and export terminals, and liquefied natural gas (LNG) processing facilities worldwide.
In the original contract, OTI, through its subsidiary OTI Africa, created a network of on-road sites equipped with its fuel management system branded in South Africa as FuelMaster Fleet and FuelMaster Express. Under the latest contract, OTI Africa will continue to provide sales, encoding, installation, driver training, maintenance, repair, quality control services, customer care services, help desk services, and technical support and development services at over 500 BP stations in Southern Africa. Separately, BP Africa has established a direct relationship with OTI for the acquisition of equipment and the grant of a worldwide license. In addition to cash payments for equipment, OTI will continue to receive a volume-based remuneration from BP based on all petrol and diesel sold through the use of the FuelMaster System at on-road and home base sites.
Says Fabian Bessick, Product Manager FuelMaster for BP Africa, "This relationship, built over many years, has contributed significantly to the bottom line of our company and that of our customers through the introduction of management systems which have provided peace-of-mind. We look forward to extend this mutually beneficial relationship with OTI."
Oded Bashan, President & CEO, OTI, stated, "The original purpose was to put a system in place to eliminate fraud, to increase the efficiencies of fleet management and to increase loyalty for BP stations. This contract extension and expansion underscores the success we have achieved and gives BP a license to now expand this program beyond Africa. Our work with BP is another example of why important and influential companies are working with OTI to adopt contactless payment solutions across a wide range of industries globally. Our customers benefit by leveraging OTI's technology for multiple applications, including loyalty programs, increased retail purchases and improved security, thereby benefiting both consumers and retailers."
The FuelMaster program monitors and expedites the fueling and payment process for fleets. The system only permits the fueling of designated vehicles, thus eliminating potential fraud. It also brings convenience to fleet managers by providing comprehensive billing, while reporting fuel consumption and mileage.
The FuelMaster Express program, which is aimed at the retail market, uses an OTI contactless smart key fob, which carries a driver's payment information, to speed transactions. The key fob is presented to the reader located on the fuel pump and will also potentially be used at BP's convenience stores in future for purchasing and gaining loyalty points.
About OTI
Established in 1990, OTI (NASDAQ: OTIV) (Prime Standard: OT5) 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 prestigious ESCAT Award for smart card innovation in both 1998 and 2000.
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:
Galit Mendelson
Director of Corporate Communications
201 944 5200 ext. 111
Email Contact
Media Relations
Adam Handelsman
5W Public Relations
212 999 5585
Email Contact
IR Contact:
David Pasquale/Denise Roche
The Ruth Group
646 536 7006/8
Email ContactEmail Contact
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9/19/2005 4:30:44 AM
Despite not having the marketing clout of the larger, well-established companies, OTI's efforts in extending its market reach in the contactlesss arena is helping the company becoming a market leader.
OTI's products and technologies include card readers and related software used for applications such as contactless payment, fuel payment systems (EasyFuel), electronic personal identification (Smart ID), mass transit ticketing, parking (EasyPark) and corporate campus security. The solutions for these applications are based on the same OTI platform and are compliant with ISO 14443 standards.
"OTI has developed and patented a communications technology that includes both a proprietary communication protocol and an encryption method, ensuring high-speed, secure transmission of data between the card and reader," says Frost & Sullivan Smart Card Analyst Anoop Ubhey. "OTI's versatile product line includes OEM components, customised products and complete systems that meet diverse customer requirements."
The company's remarkable revenue growth owes a lot to its provision of a complete suite of products rather than a component of the entire solution. Moreover, growing awareness about contactless technologies is opening up revenue streams from other application segments including access control, retail, payment, government ID cards and more recently, e-passports. The integration of transit with small payment applications is likely to further drive demand for contactless smart cards.
Further, OTI plans to leverage its success in the market with an aggressive industry expansion strategy. Not only does it hope to increase its global presence, but the company is also working on taking advantage of its existing relationships to build new ones and establish powerful strategic alliances.
OTI has collaborated with market leaders in both the card and reader segments. Its partnerships with Hypercom Corporation and Ingenico, two established point-of-sale manufactures, have helped it provide integrated contactless solutions to companies that wish to advance to contactless payments. In the card segment, it has aligned with multiple plastic card manufacturers to seamlessly integrate its inlays in the production lines enabling cost effective reliable and secured delivery of contactless cards to the payment market.
Part 2,
"While maintaining its market position, OTI has expanded and strengthened its marketing network so it can easily anticipate local needs and adopt a flexible approach to implement products cost effectively," notes Mr. Ubhey. "OTI partners with leading companies in a number of vertical markets, enabling the company to continue developing new products for these different vertical markets while providing solutions to its customer base."
The company is making rapid strides in the vertical markets of payments, SmartID and petroleum payments solutions and is also focusing on customising its solution for each market. It bases its product specifications on customer and supplier preferences, while making as few changes as possible to the existing infrastructure. OTI builds scalable products that can be upgraded without having the infrastructure replaced.
To effectively market these advantages and create demand for its products globally, OTI has set up local subsidiaries all over the world. These subsidiaries do not just market the products but also provide local technical support for current projects.
For these excellent strategic moves by OTI to expand its market reach and provide its customers with the best possible solutions, Frost & Sullivan has presented the company with the 2005 Company of the Year Award.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics. For more
information, visit www.frost.com.
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LONDON, September 19 /PRNewswire/ -- Acknowledging On Track Innovations' (OTI's) (NASDAQ: OTIV, Prime Standard: OT5) technology leadership, significant revenue expansion and its prominent position in the smart card contactless solutions market, including OTI's excellent strategic moves and ability to expand its market reach with providing its customers with optimum solutions, Frost & Sullivan presented it with the 2005 Company of the Year Award. The company's exceptional sales and marketing strategies for its microprocessor-based smart cards have given it the scale and growth required to succeed in the global contactless card solutions market.
Despite not having the marketing clout of the larger, well-established companies, OTI's efforts in extending its market reach in the contactlesss arena is helping the company becoming a market leader.
OTI's products and technologies include card readers and related software used for applications such as contactless payment, fuel payment systems (EasyFuel), electronic personal identification (Smart ID), mass transit ticketing, parking (EasyPark) and corporate campus security. The solutions for these applications are based on the same OTI platform and are compliant with ISO 14443 standards.
"OTI has developed and patented a communications technology that includes both a proprietary communication protocol and an encryption method, ensuring high-speed, secure transmission of data between the card and reader," says Frost & Sullivan Smart Card Analyst Anoop Ubhey. "OTI's versatile product line includes OEM components, customised products and complete systems that meet diverse customer requirements."
The company's remarkable revenue growth owes a lot to its provision of a complete suite of products rather than a component of the entire solution. Moreover, growing awareness about contactless technologies is opening up revenue streams from other application segments including access control, retail, payment, government ID cards and more recently, e-passports. The integration of transit with small payment applications is likely to further drive demand for contactless smart cards.
Further, OTI plans to leverage its success in the market with an aggressive industry expansion strategy. Not only does it hope to increase its global presence, but the company is also working on taking advantage of its existing relationships to build new ones and establish powerful strategic alliances.
OTI has collaborated with market leaders in both the card and reader segments. Its partnerships with Hypercom Corporation and Ingenico, two established point-of-sale manufactures, have helped it provide integrated contactless solutions to companies that wish to advance to contactless payments. In the card segment, it has aligned with multiple plastic card manufacturers to seamlessly integrate its inlays in the production lines enabling cost effective reliable and secured delivery of contactless cards to the payment market.
"While maintaining its market position, OTI has expanded and strengthened its marketing network so it can easily anticipate local needs and adopt a flexible approach to implement products cost effectively," notes Mr. Ubhey. "OTI partners with leading companies in a number of vertical markets, enabling the company to continue developing new products for these different vertical markets while providing solutions to its customer base."
The company is making rapid strides in the vertical markets of payments, SmartID and petroleum payments solutions and is also focusing on customising its solution for each market. It bases its product specifications on customer and supplier preferences, while making as few changes as possible to the existing infrastructure. OTI builds scalable products that can be upgraded without having the infrastructure replaced.
To effectively market these advantages and create demand for its products globally, OTI has set up local subsidiaries all over the world. These subsidiaries do not just market the products but also provide local technical support for current projects.
For these excellent strategic moves by OTI to expand its market reach and provide its customers with the best possible solutions, Frost & Sullivan has presented the company with the 2005 Company of the Year Award.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics. For more
information, visit www.frost.com.
Media Contact
Magdalena Oberland
Corporate Communications
Frost & Sullivan
P: +44-(0)-20-7915-7876
E: magdalena.oberland@frost.com
SOURCE Frost & Sullivan
-0- 09/19/2005
/CONTACT: Media Contact: Magdalena Oberland, Corporate Communications,
Frost & Sullivan, P: +44-(0)-20-7915-7876 E:
magdalena.oberland@frost.com/
CO: Frost & Sullivan
ST: England
IN: CPR HRD ECP
SU: AWD
UK
-- UKF009 --
4896 09/19/200504:30 EDThttp://www.prnewswire.com
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FORT LEE, NJ -- (MARKET WIRE) -- 09/29/05 -- On Track Innovations Ltd. (OTI) (NASDAQ: OTIV) (Prime Standard (Frankfurt): OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that it has established together with a government entity, a joint venture for the manufacture and sale of OTI-based travel document inlays for such government.
The joint venture was approved for establishment by the Asian government authorities. It is estimated that the joint venture will commence commercial manufacturing within nine months.
Oded Bashan, President & CEO of OTI, noted: "The Asian country's Travel Document project is one of the most advanced electronic Travel Document programs. We are excited to team with such respected government entity to form such joint venture, and proud to be selected to provide this government the most advanced solution for manufacturing travel document inlays."
About OTI
Established in 1990, OTI (NASDAQ: OTIV) (Prime Standard: OT5) 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, micro 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 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:
Galit Mendelson
Director of Corporate Communications
201 944 5200 ext. 111
Email Contact
Media Relations
Adam Handelsman
5W Public Relations
212 999 5585
Email Contact
IR Contact:
David Pasquale/Denise Roche
The Ruth Group
646 536 7006/8
Email ContactEmail Contact
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§
02.10.2005 | 12:12
§
Omri Cohen
On Track Innovations (Nasdaq:OTIV) (NASDAQ: OTIV; Prime Standard (Frankfurt): OT5), which makes contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, on Friday announced a contract worth millions of dollars in Asia.
OTI says it and an Asian government entity have established a joint venture for the manufacture and sale of OTI-based travel document inlays.
The joint venture should commence commercial manufacturing within nine months, OTI said.
Market sources say they believe it is the most significant, longest-term project OTI has scored to date, adding that it could be worth millions of dollars to the Israeli company.
The unnamed Asian country is reportedly one of the larger ones, hence the project could involve tens of millions of the smart cards.
Oded Bashan, OTI's president and CEO, said in a statement that the Asian country’s Travel Document project is one of the most advanced of its kind.
The world market for electronic identification cards is growing fast. The Chinese government has announced intentions of issuing almost 900 million smart ID cards by the time of the Beijing Olympic Games in 2008. The U.S. government means to issue about 50 million smart passports. Many other countries are expected to follow in the footsteps of the world giants and adopt smart electronic travel documents.
For the first half of 2005 OTI reported a 45% jump in revenues to $14.4 million. Its net loss narrowed by 18% to $4.7 million, or 54 cents per share.
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http://www.nytimes.com/2005/10/05/technology/...nnell.html?oref=login
Die Technik ist die Zukunft!
Gruß edugat
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Just one tap of your MasterCard PayPass card on the PayPass reader at participating locations and you're good to go. It works just like your traditional MasterCard card - but no more swiping or giving your card to cashiers. No fishing for coins or waiting for change. PayPass makes the transaction process simpler and quicker for all - at fast food restaurants, gas stations, convenience stores, and more.
Built-in technology
The MasterCard PayPass card has built-in chip and antenna technology, as well as a standard magnetic stripe. The card and specially equipped PayPass terminals communicate payment card details using very short range radio waves.
Safe and secure - just like your traditional card
Your card never leaves your hand. And you get the same level of security that you've been accustomed to: $0 liability on unauthorized purchases and a receipt for every purchase. The chip within your MasterCard PayPass card has the same information as that on the magnetic strip of your card. Current MasterCard and Issuer privacy and confidentiality rules apply as per your current cardholder agreement.
Also accepted at over 23 million locations worldwide
MasterCard PayPass is a simpler way to pay at select merchants at a rapidly growing number of locations. MasterCard PayPass cards can also be used in the traditional way at any one of the over 23 million MasterCard acceptance locations around the world.
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PURCHASE, N.Y., Oct 07, 2005 (BUSINESS WIRE) -- MasterCard International today launched a new iteration of its award-winning Priceless(R) national advertising campaign, with its first broadcast execution supporting MasterCard(R) PayPass(TM), its contactless payment program. The execution supports MasterCard's broader strategy of furthering its positioning in the burgeoning contactless payment market. In the last year alone, PayPass has attracted significant interest, adoption and acceptance among issuers, merchants, terminal vendors and consumers.
The TV spot, which breaks on October 9, is set at a McDonald's drive-thru. The 30-second commercial features a consumer awkwardly searching his car for crumpled dollar bills and loose change. The narrator reels off the amount of cash and time it takes to pay for his meal, followed by the next consumer easily using his MasterCard PayPass card to "Tap & Go(TM)." The piece concludes with the narrator stating, "Always having exact change: priceless."
The spot highlights MasterCard PayPass usage at McDonald's and how it offers a quicker and more convenient alternative to cash. The ad will run through the end of 2005 and was created by McCann Erickson of New York as part of a fully-integrated marketing campaign.
"This execution with McDonald's truly brings to life the value proposition of MasterCard PayPass, which is to allow time-crunched consumers to easily tap and go at thousands of retailers, including McDonald's," said Amy Fuller, group head, Americas marketing for MasterCard International.
MasterCard PayPass allows accountholders to tap their PayPass card or device on specially equipped merchant terminals. It also continues to position MasterCard as the preferred payment choice for everything that matters. Payment is completed quickly, securely and easily, without the hassle of swiping a card, fumbling for cash and coins or signing a receipt. At select merchants, signatures may not be required for purchases under $25, further speeding customer's transactions.
"McDonald's accepts PayPass at more than 9,000 restaurant locations throughout the United States. The innovative technology of PayPass helps our customers get their McDonald's favorites, like a Big Mac, fries and Coke, at the speed and convenience they've come to expect whenever they visit our restaurants," said Gina Pfeifer, vice president, business integration for McDonald's USA.
In addition to McDonald's, the following merchants have announced that they will accept MasterCard PayPass: participating 7-Eleven stores, CVS, Ritz Camera Centers, Boater's World Marine Centers, Sheetz, Regal Entertainment Group theatres (Regal Cinemas, United Artists Theatres and Edwards Theatres), Duane Reade and Meijer Stores. PayPass is also accepted at QWEST Field, M&T Bank Stadium, Lincoln Financial Field, FedExField, Giants Stadium, Arrowhead Stadium and Ford Field homes of the Seattle Seahawks, Baltimore Ravens, Philadelphia Eagles, Washington Redskins, New York Giants and New York Jets, Kansas City Chiefs and Detroit Lions respectively, and at Citizens Park which is home to the Major League Baseball Philadelphia Phillies.
PayPass technology can be used in a number of different form factors. PayPass cards include magnetic stripe technology, so the cards can also be used in the traditional manner anywhere MasterCard is accepted around the world. PayPass technology can also be used in a number of devices, such as a convenient fob that fits on a key chain for easy access. Users simply tap their PayPass-enabled key fob on the PayPass reader at participating merchants and they are on their way.
For more information about MasterCard PayPass, visit http://www.mastercard.com/paypass.
Creative for MasterCard's "Priceless" campaign is handled by McCann-Erickson/New York. The team includes: Joyce King Thomas, EVP, Chief Creative Officer; Leslie Sims, SVP, Group Creative Director; Audrey Huffenreuter, SVP, Group Creative Director; Sally Hotchkiss, SVP, Executive Producer; and Greg Lotus, VP, Senior Producer.
Since its debut in October 1997, MasterCard's Priceless campaign has earned more than 100 industry awards - including four EFFIE Awards - for marketing effectiveness.
How MasterCard PayPass Works
MasterCard PayPass uses radio frequency technology to transmit payment details wirelessly between the PayPass device and the merchant's terminal. The transaction is then processed through the MasterCard network for clearing and settlement. MasterCard PayPass acceptance is ideal for quick payment environments where speed and ease of use are essential, such as quick serve restaurants, gas stations, drug stores and movie theaters.
About MasterCard International
MasterCard Incorporated is a leading global payments solutions company that provides a broad variety of innovative services in support of our global members' credit, deposit access, electronic cash, business-to-business and related payment programs. MasterCard, through its principal operating subsidiary, MasterCard International Incorporated, manages a family of well-known, widely accepted payment card brands including MasterCard(R), Maestro(R) and Cirrus(R) and serves financial institutions, consumers and businesses in over 210 countries and territories. The MasterCard award-winning Priceless(R) advertising campaign is now seen in 105 countries and in 48 languages, giving the MasterCard brand a truly global reach and scope. For more information go to http://www.mastercardinternational.com.
SOURCE: MasterCard International
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NEW YORK -(Dow Jones)- STMicroelectronics N.V. (STM) and On Track Innovations Ltd. (OTIV) said in a statement Wednesday that Visa International agreed to use a system the companies developed aimed at making credit-card purchases faster.
The technology, which enables "contactless" payment transactions, allows credit-card users to skip having to swipe their plastic on a traditional credit- card reader and instead pass specially enabled credit cards over a device that reads the card.
Ohad Bashan, head of On Track Innovations operations in America, said by telephone that the technology will help make credit-card transactions faster and easier for both consumers and businesses.
Bashan declined to say how much revenue the Israeli company expects to receive under the Visa deal, except to say it is "in the millions."
Last year, the company posted revenue of $23.15 million.
Under the deal, Geneva-based STMicroelectronics will provide the chip, while On Track Innovations will provide the software and other technology, including a device that will be implanted in credit cards to enable contactless payments.
Bashan said the companies have begun shipping the contactless payment devices to sites designated by Visa, though he declined to say how many contactless units are being sent.
The device passed muster with Visa in terms of security, Bashan said, and is the only product Visa has approved for use in its contactless program.
"Obviously, this creates a tremendous market," he said, noting that there are about 450 million Visa cards in circulation, though most aren't equipped with the "contactless" payment technology. "The U.S. market is facing a massive infrastructure upgrade."
Bashan noted that CVS Corp. (CVS) has decided to proceed with contactless payment technology after a pilot study found that customers who used contactless payment spent, on average, 20% more and completed purchases in an average of 12.5 seconds compared with 26.7 seconds for other credit cards and 33.7 seconds for cash.
Visa rivals MasterCard Inc. and American Express have introduced similar technology.
-Tim Paradis; Dow Jones Newswires; 201-938-5400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
10-19-050315ET
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Revenues From Its Program of Providing Inlays for Electronic Travel Documents to an Asian Country Expected to Reach Low Tens of Millions of Dollars Starting FY 2007
FORT LEE, NJ -- (MARKET WIRE) -- 10/24/05 -- On Track Innovations Ltd. (OTI) (NASDAQ: OTIV) (Prime Standard (Frankfurt): OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, has indicated that it expects revenues for the first nine months of 2005 to reach $24 million, which would represent an increase of 56% over first nine months of 2004. Revenues in the third quarter in 2005 are expected to be approximately $9.5 million. The increase is attributed mainly to growth in the contactless payments market.
OTI further indicated that it expects revenues in regards to its earlier announcement from September 29, in relations to the manufacture and sale of OTI-based Travel Document inlays for an Asian government, to reach low tens of millions of dollars per year starting from 2007 and onwards. It is estimated that the delivery of initial quantities will commence in the second half of 2006.
About OTI
Established in 1990, OTI (NASDAQ: OTIV) (Prime Standard: OT5) 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, micro 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 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 OTI's 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:
Galit Mendelson
Director of Corporate Communications
201 944 5200 ext. 111
Email Contact
Media Relations:
Adam Handelsman
5W Public Relations
212 999 5585
Email Contact
IR Contact:
David Pasquale/Denise Roche
The Ruth Group
646 536 7006/8
Email ContactEmail Contact
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http://finance.yahoo.com/mp#otiv
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MasterCard(R) PayPass(TM) Eliminates the Need to Fumble With Cash and Coins at
Vending Machines
MALVERN, Pa., and PURCHASE, N.Y., Oct. 26 /PRNewswire-FirstCall/ -- USA
Technologies (OTC Bulletin Board: USTT) and MasterCard International today
announced they are working together to provide a faster and more convenient
payment option for use at vending machines. USA Technologies believes that
its e-Port(R) cashless payment and networking services, combined with the
MasterCard(R) PayPass(TM) contactless payment solution, could revolutionize
the $40 billion global vending industry by providing consumers with a welcome
payment alternative to cash and coins.
Following successful trials conducted at MasterCard's corporate
facilities, more than 500 vending machines throughout New York City and
Atlanta, Georgia will now be specially equipped to accept MasterCard PayPass.
"PayPass is ideal for quick payment environments where speed is essential,
such as vending machines," said Cathleen Conforti, Global PayPass Product
Manager, MasterCard International. "PayPass is fast, convenient and
eliminates the hassle of fumbling with cash and coins or looking for exact
change. Consumers simply tap their PayPass-enabled card or fob on the vending
machine's payment terminal and they are on their way."
The e-Port payment terminal from USA Technologies installs easily into
existing cash-only vending machines, enabling them to accept traditional
credit and debit cards as well as contactless cards and fobs. The solution
provides consumers with multiple payment options, while increasing sales
opportunities for merchants.
"Together, PayPass and e-Port combine to create a unique payment solution
that could quickly change the global vending marketplace as we know it," said
George R. Jensen, chairman and CEO, USA Technologies. "Vending is one of the
fastest emerging cashless opportunities, and we are taking the lead in jump
starting payment card use in vending."
http://www.prnewswire.com/cgi-bin/...ory/10-26-2005/0004195561&EDATE=
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Thursday November 10, 10:40 am ET
-- OTI Contactless Technology Integrated with Industry's Leading Touch Screen and Signature Capture Terminal for "On the Go" Payment --
ATLANTA, GA, Nov. 10 /PRNewswire/ - Ingenico, the world's leading provider of electronic payment terminals, announced today the installation of the eN-Touch 1000 with contactless reading technology from On Track Innovations Ltd. (OTI) at all Duane Reade locations by the end of 2005. The eN-Touch 1000 supports Duane Reade customer "tap and go" payment with American Express® ExpressPay(TM), MasterCard® PayPass(TM) and Visa® branded contactless cards.
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When using a contactless reader, consumers simply tap their contactless payment card on the eN-Touch 1000 terminal with integrated OTI contactless reader to quickly make purchases at Duane Reade pharmacies. The OTI reader securely transmits card information via radio frequency, eliminating the time it takes to swipe a magnetic stripe card. Contactless payment offers Duane Reade customers increased checkout speed and improved payment convenience.
John K. Henry, Senior Vice President and Chief Financial Officer of Duane Reade, stated "Ingenico has enabled Duane Reade to implement a single terminal that supports electronic signature capture, PIN entry debit and "tap and go" payment. Duane Reade prides itself in being at the forefront of leveraging technology to provide the best customer service of any pharmacy serving the New York metropolitan market.
About Ingenico
Throughout the world businesses rely on Ingenico for secure and expedient electronic transaction acceptance. Ingenico products leverage proven technology, established standards and unparalleled ergonomics to provide optimal reliability, versatility and usability. This comprehensive range of products is complimented by a global array of services and partnerships, enabling businesses in a number of vertical sectors needing to accept transactions anywhere business takes them. For more information about Ingenico, visit their web site at www.ingenico-us.com.
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DGAP-Ad hoc: On Track Innovations Ltd. < OT5> deutsch
Ad-hoc-Meldung nach §15 WpHG
On Track Innovations (OTI) schließt private Platzierung von 22,2 Millionen ...
Ad-hoc-Mitteilung verarbeitet und übermittelt durch die DGAP.
Für den Inhalt der Mitteilung ist der Emittent verantwortlich.
--------------------------------------------------
On Track Innovations (OTI) schließt private Platzierung von 22,2 Millionen USD
in Stammaktien ab
Fort Lee, NJ - 1. November 2005 - On Track Innovations Ltd. (OTI) (NASDAQ:
OTIV; Prime Standard (Frankfurt): OT5), hat heute mitgeteilt, dass es eine
private Platzierung von neuem Kapital in Höhe von ca. 22,2 Millionen USD von
institutionellen Investoren aus den U.S.A., der Schweiz und England
abgeschlossen hat.
Die Transaktion umfasste den Verkauf von 1.828.026 Anteilen, von denen (i)
1.544.568 aus einer Stammaktie sowie einer Option zum Kauf von drei-fünftel
(3/5) einer Stammaktie und (ii) 283.458 aus einer Stammaktie und einer Option
zum Kauf von der Hälfte (1/2) einer Stammaktie bestehen. Der Kaufpreis für
jeden der 1.828.026 Anteile belief sich auf 12,15 USD pro Anteil. Die Optionen
können nicht vor dem 1. Mai 2006 ausgeübt werden.
On Track Innovations Ltd.
Z.H.R. Industrial Zone
12000 P.O. Box 32 Rosh Pina
Israel
ISIN: IL0010834682
WKN: 924895
Notiert: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Düsseldorf, Hannover, München und Stuttgart
Ende der Ad-hoc-Mitteilung (c)DGAP 02.11.2005
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OTI to Present its Contactless Payments Solutions Supporting Major Financial
Institutions at the Cartes 2005 Show in Paris, November 15-17
FORT LEE, N.J., Nov. 15 /PRNewswire-FirstCall/ -- On Track Innovations Ltd. (OTI) (Nasdaq: OTIV; Prime Standard (Frankfurt): OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced that it will deliver contactless solutions for more than ten (10) million contactless payment cards to the growing contactless payment market in the US by the end of the year.
OTI's contactless solution provides card manufacturers and financial institutions with a superior solution providing additional security, reliability and cost effective way to bring secure contactless solutions to the market. OTI's inlay solution provides high card durability. OTI's Hercules operating system and contactless products and technology enables a robust solution that meets the stringent security requirements of the payments industry, while also providing the speed and convenience that is essential in contactless transactions. These solutions have been successfully integrated with major card manufactures in the US.
"Our contactless solution provides issuers with a cost effective, reliable and secure way to implement contactless cards. The advancements in the field are exciting and give further validation to the strength of our company. We are geared up to support contactless payment programs with production capacity of six million units per month starting the second half of 2006," said Oded Bashan, President and CEO of OTI.
OTI will be demonstrating its solutions in the Cartes 2005 Annual Conference and Exhibition on November 15-17 at the Paris-Nord Villepinte Exhibition Center in Paris, France.
In Booth 4 M 80, OTI will demonstrate its range of smart card solutions with special focus on Payment -- cashless solutions for small ticket items including variety card solutions supporting card and reader solutions, and SmartID - Homeland security solutions including national ID cards, e-passports and medical cards.
About OTI
Established in 1990, OTI (Nasdaq: OTIV; Prime Standard: OT5) 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, micro 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 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 OTI's 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: IR Contact:
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