On Track Innovations Ltd.
OTI & ATMEL RECEIVE FIRST COMMERCIAL ORDERS TO SUPPORT MASTERCARDs PAYPASS
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OTI & ATMEL RECEIVE FIRST COMMERCIAL ORDERS TO SUPPORT MASTERCARDs PAYPASS
OTI/Atmel Solution Receives MasterCard Certification
San Jose, CA, & Cupertino, CA, – August 25, 2004 -Atmel Corporation (Nasdaq:
ATML), a leading provider of system-level integration semiconductor solutions,
including secure microcontrollers and smart card ICs and 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, today announced that
they have received the first commercial quantity orders of contactless
microprocessors developed for the MasterCard PayPass contactless payment
program.
Atmel and OTI were selected to supply the secure contactless micro controllers
in addition to an overall contactless solution that includes the operating
system, application support and inlay technology for contactless smart cards.
OTI’s and Atmel’s solution has also recently received MasterCard certification
after passing MasterCard’s PayPass Card Technology Approval. OTI also
anticipates orders for its card readers that will be used in conjunction with
the PayPass card rollouts expected later this year.
MasterCard PayPass provides a simpler way to pay for small value transactions
where speed and customer flow are essential, such as in quick-serve restaurants,
convenience stores, gas stations and toll roads. Since cardholders quickly pay
with a simple tap or wave of the card, a PayPass card is more convenient to use
than cash. MasterCard PayPass contains a secure contactless microprocessor
chip and antenna inside the card, in addition to the card’s standard magnetic
stripe.
The contactless chip used is an 8-bit secure microcontroller from Atmel’s AT05SC
highly secure product family, currently used for banking applications. The chip
features 40KB ROM, 2KB EEPROM, hardware DES and hosts Atmel’s high security
mechanisms. The contactless chip is compliant with lSO-14443B and ISO-7816
industry standards. Atmel is one of the industry’s most experienced
manufacturers of secure microcontrollers for electronic payment. The security of
its ICs has been certified by independent authorities and the chips have been
used without security issues in hundreds of millions of devices in use everyday
in various applications.
OTI is a leading provider of secure contactless solutions and has worked with
MasterCard on its PayPass program from early in its inception. OTI is providing
the contactless solution expertise, including the operating system, application
support and inlay technology. It has successfully integrated its inlay
technology with leading U.S. card vendors and has already integrated its Saturn
5000 reader solutions with multiple point of sale providers to support
MasterCard PayPass program.
Jeff Katz, Atmel’s Vice President of Marketing, commented, “It is very
gratifying to see the first fruits of the close teamwork between Atmel and OTI
in developing and bringing to market MasterCard PayPass. OTI’s proven technical
capability and commitment in contactless technology were key to this success.”
Oded Bashan, President and CEO of OTI, commented, “Having worked with MasterCard
since early in its inception of its exciting MasterCard PayPass program, we are
proud to be involved in the launch of next generation payment cards. This
represents of a great deal of hard work, technological development and
creativity. By teaming together with an industry leader like Atmel, we have been
able to provide our customers with a complete contactless solution. We look
forward with great anticipation to the next and future stages of the rollout.”
end
About Atmel
Founded in 1984, Atmel Corporation is headquartered in San Jose, California with
manufacturing facilities in North America and Europe. Atmel designs,
manufactures and markets worldwide, advanced logic, mixed-signal, nonvolatile
memory and RF semiconductors. Atmel is also a leading provider of system-level
integration semiconductor solutions using CMOS, BiCMOS, SiGe, and high-voltage
BCDMOS process technologies.
© Atmel Corporation 2004. All rights reserved. Atmel, the Atmel logo and
combinations thereof are registered trademarks and others contained herein are
trademarks of Atmel Corporation. Terms and product names in this document may be
the trademarks of others.
Information:
For more information on the Atmel/OTI solution for MasterCard PayPass, please
visit Atmel’s website at
http://www.atmel.com/dyn/products/other_docs.asp?family_id=662
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. Major
clients include: MasterCard International, Atmel, BP, Scheidt & Bachmann, EDS,
Repsol, and the Government of Israel. 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 and
www.portfoliopr.com
OTI Contact:
Galit Mendelson, Director of Corporate Communication, OTI,
Tel: 212 421 0333, Email: galit@otiglobal.com
Agency Contacts:
Paul Holm and Jerry Cahn, Portfolio PR
Tel: 212 736 9224, Email: pholm@portfoliopr.com / jcahn@portfoliopr.com
Atmel Press Contacts:
Clive Over, Director of Press Relations – USA and Asia,
Tel: +1 408 451 2855, Email: cliveover@atmel.com
Veronique Sablereau, Corporate Communications Manager – Europe,
Tel: +33 1 30 60 70 68, Email:veronique.sablereau@atmel.com
end of message, (c)DGAP 25.08.2004
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WKN: 924895; ISIN: IL0010834682; Index:
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251403 Aug 04
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