On Track Innovations Ltd.
On Track Innovations Ltd.: SUBSIDIARY ASEC S.A. RECEIVES FOLLOW-ON ORDER
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
——————————————————————————
OTI SUBSIDIARY ASEC S.A. RECEIVES FOLLOW-ON ORDER FOR – – –
Additional 1500 Terminals for Contactless Payments .
Fort Lee, New Jersey- January 5, 2005 – On Track Innovations Ltd. (OTI)
(NASDAQ: OTIV; Prime Standard (Frankfurt): OT5), a global leader in
contactless microprocessor-based smart card solutions for homeland security,
micropayments, petroleum payments and other applications, announced that its
wholly owned subsidiary, ASEC S.A., received a follow-on order for 1500
additional Verifone’s Omni 3750 terminals with contactless reader solutions
for micropayments to be located in one of the largest kiosk chains across
Poland. The order i follows an earlier announced initial order for 1000
terminals, and creates one of the largest infrastructure for Contactless
payments in the market, which can support additional applications to meet the
needs stores, hypermarkets, and other commercial enterprises.
Similar to the previous order, the terminals are for a Polish mass transit
system and will be operated through a GSM Communications system. Commuters
will be able to load funds onto their commuter card to pay for their mass
transit tickets and other small ticket-items.
Poland, with a population of about 40 million, recently joined the European
Union in May and has a strong need to modernize and ramp-up to the Western
European standards, especially with respect to financial and payment systems.
Today, there are about 80,000 Point-of-Sale terminals and 7,200 ATM machines
located across the country, a small number compared to the size of the country
and its growing economy.
Jerzy Fulara, ASEC senior executive commented, “Poland, is rapidly developing
the financial and payment infrastructure commensurate with Western European
institutions, representing a great opportunity for OTI and ASEC to play a
major role. Together,
we look forward to facilitating additional applications in Poland and serving
citizens in other emerging European countries.”
Oded Bashan, President & CEO of OTI, said, “This order demonstrates the value
of our earlier acquisition of ASEC – a company that can profitably introduce
us to new and growing clients within the emerging European countries market.
With its vast commercial potential, we look forward to providing these
countries with complete solutions to the three vertical markets of Payment,
Petroleum and SmartID.”
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, 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. Major clients include: MasterCard International, Atmel, BP,
Scheidt & Bachmann, EDS, Repsol, and the Government of Israel. For more
information on OTI, visit http://www.otiglobal.com
end of message, (c)DGAP 05.01.2005
——————————————————————————
WKN: 924895; ISIN: IL0010834682; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover, München und Stuttgart
051519 Jän 05
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden