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Technology Stocks : On Track Innovations Ltd. (OTIV)
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From: JakeStraw5/15/2012 11:26:59 AM
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OTI Receives Order for 30,000 NFC and Contactless Payment Readers to be Deployed in the U.S.
finance.yahoo.com

With its SCI OEM integrated solution and the Saturn outdoor and indoor line of readers, OTI readers provide an easy, cost effective plug-and-play solution to support the migration toward contactless payment and NFC, necessary to support the increasing adoption of NFC payment technology across the world. OTI's NFC readers are certified by the world's major credit card associations -- including MasterCard, Visa, American Express and Discover for their contactless programs. Also, OTI's state of the art manufacturing facilities and products received the prestigious Terminal Quality Management (TQM) certification from MasterCard. The TQM scheme was created by MasterCard to ensure that the functionality of chip terminals, as certified during type approval testing by EMVCo, can be sustained throughout a manufacturing cycle.

"We are excited to support the rapidly growing use of NFC and contactless payment in the U.S. Our readers provide a robust and durable solution that assures superior user experience at the point of sale," said Oded Bashan, OTI's Chairman and CEO. "This order is part of our efforts to work with our customers to provide the infrastructure for contactless payment as customer demand for NFC enabled devices expands," Mr. Bashan concluded.
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