ROSH PINNA, Israel, Feb. 12, 2018 /PRNewswire/ -- On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, announced today a continuing partnership with Apriva, a technology company providing an adaptive platform for omnichannel payments and secure mobile communications. Together they will continue to focus on the ever-growing unattended payments kiosk market with this ingenious pre-integrated payment solution.
OTI's best in its class hardware and software combined with Apriva's adaptive payment platform brings our customers unmatched value, flexibility, and ease of integration, saving thousands of dollars and many months in development time and certification costs.
"The addition of pre-certified EMV processing to the OTI/Apriva Kiosk solution brings incredible value to both our current and future customers." Quotes Shlomi Cohen, CEO, OTI. "This timely and relevant solution is easy to install, even for kiosk solution providers with no previous cashless payment experience."
Apriva's payment solutions are built on a secure technology foundation that has been deployed by the US Intelligence Community, Department of Defense (DoD), and is compliant with the payment industry's standards body, the PCI Security Standards Council.
"This partnership delivers an affordable, semi-integrated EMV solution for self-service markets," said Scott Dowty, chief revenue officer at Apriva. "Kiosk retailers, micro-markets, vendors and other self-service merchants can increase their revenues by accepting more forms of cashless payments, easily integrated via Windows or Linux SDK, and reducing their PCI scope through end-to-end encryption (E2EE)."
The Interactive Self-Service OTIKiosk Payment solution is available in the US through our Las Vegas-based distributor, Unattended Card Payments Inc.
Formed in 2003, Apriva is a technology company providing an adaptive platform for omnichannel payments and secure mobile communications. Our proprietary-built systems meet the exacting security and reliability requirements of financial services providers, commercial enterprises, government entities, and public service sectors. Through its two operating groups, Apriva Payments, and Apriva Mobile Security, the company offers fully-managed, end-to-end security solutions supporting commerce and communications. For more information, visit www.apriva.com.
On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address cashless payment and management requirements for the Internet of Payment Things (IoPT), wearables, automated retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel. For more information, visit www.otiglobal.com.
Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "predict," "likely," "foresee," "should," "could," "may," "will," "future" or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, reduction of costs and expenses, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, expectations regarding certain markets growth, and deliver long-term shareholder value. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2016, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Except as otherwise required by law, 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 circumstances or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements.
Michael Jones - Apriva
OTI Press Contact:
Richard Harris - OTI Global
SOURCE On Track Innovations Ltd (OTI)