OTI Receives Order for 17,000 NFC and Contactless Payment Readers to Be Deployed in Europe for Use in Mass Transit Market
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 holds extensive intellectual property portfolio pertaining to NFC technology, including over 100 issued patents and pending patent applications encompassing product applications, software platforms, system and product architecture, product concepts and more in the fields of NFC, contactless payment, secure ID, petroleum and parking solutions.
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.
"The customer order for 17,000 NFC readers closely follows other orders we received including the one in May for 30,000 NFC readers for the U.S. market. This is part of a broader market trend expected to occur over the next several years as NFC and contactless payment starts being used more broadly," said Oded Bashan, OTI's Chairman and CEO. "These recent reader orders are a testament to OTI's ability to deliver a first-rate user experience to our clients and their customers." |
