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Technology Stocks : On Track Innovations Ltd. (OTIV)

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From: JakeStraw6/25/2012 1:46:33 PM
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New U.S. Patents Pertaining to NFC and Contactless Payment Strengthen OTI's IP Portfolio
finance.yahoo.com

OTI's New Patents Include:

The "Retrofit Contactless Smart SIM Functionality in Mobile Communicators" patent (U.S. Patent No. 8,195,236) relates among others to adding NFC and contactless payment capabilities to existing mobile handsets through the connection of a device to a phone's existing SIM card. This is the foundation of OTI's Contactless Payments and NFC Insert (COPNI). A COPNI-enabled mobile phone enables mobile network operators (MNOs) to provide a true after-market solution to existing subscribers, filling the gap between the demand for handsets with embedded NFC and non-NFC enabled phones already in the market.
The "Multi-Application Contactless Smart Card" patent (U.S. Patent No. 8,186,602) relates among others to supporting multiple applications and/or payment mechanisms on a single contactless device and operating system.
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