ROSH PINNA, Israel, October 2,
2017 /PRNewswire/ -- On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global provider of near field communication (NFC)
and cashless payment solutions, announced today it has been named one of the 10 Fastest Growing IoT Companies of
2017 by The Silicon Review Magazine.
The Silicon Review Magazine honors OTI with this award after reviewing OTI's offerings for the cashless payment market and the
Internet of Payment Things (IoPT).
"There is growing demand for Cashless payments in the IoPT and unattended retail markets in developed countries, particularly
in the US, Europe and Japan, where we are experiencing our
greatest growth," said Shlomi Cohen OTI CEO.
About OTI
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 Things (IoT), wearables, unattended
retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and
alliances. 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 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, 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
Neil Barr
Director of Marketing
+972-4-686-8004
press@otiglobal.com
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SOURCE On Track Innovations Ltd (OTI)