ROSH PINNA, Israel, Dec. 18, 2017 /PRNewswire/ -- On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has announced that it is developing capabilities to implement the use of Bitcoins in its cashless payment solutions.
Bitcoin usage is growing in the e-payment marketplace, with many establishments accepting online Bitcoins transactions. Bitcoin usage has benefited from a growing acceptance of its ongoing facilitation of transfers. It's fast becoming the prominent digital Internet transaction currency.
"At OTI we are working hard and intend to rapidly become Bitcoin acceptable in transactions via NFC, Bluetooth or QR code," stated Shlomi Cohen, OTI's CEO. "We also look forward to integrating Bitcoin acceptance in our innovative ATM and secure cashless vending products."
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 contains 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" or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our development of capabilities to implement Bitcoin acceptance and our intention to become Bitcoin acceptable in transactions via NFC, Bluetooth or QR code. 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 issues encountered in our development of Bitcoin capabilities, the continued acceptance of Bitcoin as a digital currency, 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.
OTI Press Contact:
SOURCE On Track Innovations Ltd (OTI)