On Track Innovations Ltd.
OTI CONTACTLESS READER SOLUTION RECEIVES CERTIFICATION FROM AMERICAN EXPRESS
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
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OTI CONTACTLESS READER SOLUTION RECEIVES CERTIFICATION TO SUPPORT EXPRESSPAY
FROM AMERICAN EXPRESS(R)
Saturn 5000 Has Already Been Certified for MasterCard(R) PayPass(TM),
PowerPay(TM), Loyalty Programs
Fort Lee, NJ – December 2, 2004 – 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 its Saturn 5000 contactless reader received certification from American
Express (NYSE: AXP) to support its ExpressPay contactless payment program.
This follows OTI’s recent announcement as the only company to date to obtain
certification on both its MasterCard PayPass compatible card and reader
solutions.
ExpressPay is an easy-to-use alternative to cash for making purchases at
merchants where speed and convenience are important – such as quick serve
restaurants, supermarkets, drug stores, gas stations, and corporate
cafeterias. Users simply hold the ExpressPay key fob next to a companion
reader at checkout to make purchases. Payment is authorized in seconds and no
signature is required. ExpressPay links directly to an existing credit,
charge or debit card to fund the purchase.
The Saturn 5000 is built to allow quick upgrades of existing POS terminals
to accept contactless payments, with the reader facing the customer for
easier payment experience. The Saturn 5000 can support multiple applications
and is currently compatible with all major POS terminal providers.
Supporting the major financial contactless programs, the software integrated
in the Saturn 5000 can read a variety of sources including credit cards and
key fobs. OTI also offers OEM solutions that can be integrated into payment
terminals.
Oded Bashan, President and CEO of OTI, commented, “The American Express
certification further validates OTI’s multi-solution approach and attests,
overall, to OTI’s technological leadership and expertise in contactless
solutions. The multi-certification status of our Saturn 5000 reader makes it
even more attractive to merchants because of the small “footprint” or
required counter space.”
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
http://www.otiglobal.com
end of message, (c)DGAP 02.12.2004
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WKN: 924895; ISIN: IL0010834682; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover, München und Stuttgart
021000 Dez 04
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