- otiMetry telemetry systems to be distributed by Vend Access
- Expands OTI’s presence in Australia from fueling solutions to cashless unattended retail
- Shipments to and installations in Australia expected to begin Q4 2016
ROSH PINA, Israel, Nov. 14, 2016 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (OTI) (NASDAQ:OTIV),
a global provider of near field communication (NFC) and cashless payment solutions, today announced its entry into the Australian
cashless payments market in cooperation with Vend Access Pty Ltd, a provider of technology and solutions for vending and unattended
machine operators in Australia, and with Card Access Services Pty Ltd, a leading payment gateway and processor for Australian and
international businesses.
Vend Access (VA) will distribute OTI’s otiMetry
solution which includes advanced NFC based cashless readers and a
state-of-the-art telemetry system. Card Access Services will provide the gateway and processing services for otiMetry systems
installed and operated by Vend Access.
otiMetry makes any vending and self-service operation smart and interactive by uniquely incorporating telemetry,
sales, operations, and marketing into an affordable solution with real-time management capabilities.
Bill Chronarakis, General Manager of Vend Access says “Vend Access’s practical experience matched with Card Access Services’
e-payment management from OTI’s terminals and otiMetry will improve earnings for vending owners.”
“Entering the Australian market marks another milestone in our approach of building an extensive distributors network that
provides intelligent and cost effective solutions for the unattended market,” said Shlomi Cohen, OTI CEO. “The close cooperation
with Vend Access and with Card Access Services, which has over 28 years of experience in the payment industry and their outstanding
support and customer oriented approach, ensure that Australian self-service machine operators will be getting a reliable and
comprehensive solution at an affordable price.”
Stelios Savva, General Manager of Card Access Services says “Card Access Services is proud to connect Vend Access’ clients with
OTI’s quality products and communications facilities for vending applications in Australia. Vend Access’ industry background, its
experience in providing diversified payment solutions combined with OTI’s reputable cashless readers and telemetry provides an
integrated and end-to-end solution to the Australian self-serve market, including vending machines, laundromats, kiosks, car wash,
dog wash, gaming and other verticals.”
Vend Access is expected to initiate commercial installations of the integrated solution by Q4 2016.
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.
About Card Access Services (CAS)
Card Access Services (CAS) has been designing, building and maintaining secure e-payment systems for vendors of unattended
terminals since 1987. CAS enables e-vending payments by Tourists on Hop-on busses, by farmers and hikers purchasing water in remote
Queensland and for sales of diverse products such as Mobile phones, Gas supplies, sporting goods and snack products. Vend
Access and OTI clients will be supported by CAS’s experienced Australian Customer Service Representatives and annual PCI audits.
www.cardaccess.com.au.
About Vend Access (VA)
Vend Access has been an active provider to the cashless self-service industry throughout Australia. Vend Access has a broad
knowledge of Australia’s communications carriers and strong relationships with vending industry associations and operators and will
assist OTI’s vending operators to connect their OTI cashless services with OTI’s elegant remote controls of product dispensing
aided by the routing of replenishment supplies. www.vendaccess.com.au.
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 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, contributions of our regions to our
growth, resolution of our outstanding patent infringement claims, strengthening of our balance sheet and delivery 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, 2015, 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: Neil Barr Director of Marketing +972-4-686-8004 press@otiglobal.com