ROSH PINA, ISRAEL and LAS VEGAS, NV--(Marketwired - Mar 28, 2016) - On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment systems, has partnered with NEXTEP SYSTEMS, the Foodservice Technology Company™, to equip drive thru kiosks with oti's SATURN 6500 TRIO reader.
oti's selection by NEXTEP SYSTEMS followed an extensive evaluation and testing process of oti's TRIO reader, a modular payment device that supports up to three cashless payment interfaces. oti designed the TRIO reader for installation in vending and self-serve machines to allow cashless payment with magnetic payment cards, mobile (Apple Pay, Android Pay, Samsung Pay), EMV chip contact, and EMV contactless payment cards (NFC).
NEXTEP SYSTEMS is the inventor of 'The World's Fastest Drive Thru™', a touchscreen kiosk specifically developed for the Quick Serve Restaurant (QSR) drive thru to speed production and reduce communication errors. Instead of shouting at a speaker, drive thru guests are guided by an intuitive touch interface that makes the most complicated orders simple. NEXTEP kiosks make drive-thru orders faster, more accurate, and more profitable than traditional systems. With oti's SATURN 6500 TRIO reader, QSR guests will be able to securely and conveniently pay at the kiosk with a credit card, NFC-enabled mobile device or EMV contactless payment card.
NEXTEP SYSTEMS' technology has been deployed at hundreds of drive thru kiosk locations in North America for several of their key U.S. customers. The partners have integrated oti's readers into the NEXTEP drive thru kiosk system, and commenced marketing the solution to NEXTEP's existing customer base of QSR operators. The companies are initially targeting the upgrade of more than 100 drive thru kiosks in 2016. Deployments of oti readers began in the first quarter of 2016.
"The QSR industry processes billions of credit and debit transactions annually," said Tommy Woycik, president of NEXTEP SYSTEMS. "With credit card fraud on the rise, we are seeing growing demand by QSR operators looking to quickly and affordably increase security, while meeting the new EMV requirements. Given oti's proven track record of developing innovative and highly-security reader technology, our customers can now confidently accept EMV cards and NFC mobile payments with minimal upgrade costs or downtime."
Shlomi Cohen, oti CEO, added: "Our selection by NEXTEP, a highly-trusted technology vendor to the restaurant industry, reflects the fact that our NFC readers have the most advanced design and security in the industry. This partnership also opens up an entirely new and growing market for oti. We are working closely with NEXTEP to upgrade its customer base and the QSR industry with our highly-secure reader technology."
About NEXTEP SYSTEMS
NEXTEP SYSTEMS, based in Troy, Michigan, provides enterprise scalable foodservice technology solutions for restaurants, corporate foodservice, airports, healthcare, education and other high-volume operations. From cloud based point of sale with integrated remote ordering to self-order solutions indoors and out, NEXTEP provides and supports the complete integrated foodservice platform. For more information, visit www.nextepsystems.com.
About oti
On Track Innovations Ltd. (oti) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. oti's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. oti markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.