OTI, Hypercom and Commtrain Deliver First Productive EMV Contactless Transaction in Europe
11 April 2007 - 12:29AM
PR Newswire (US)
First Transaction Conducted in McDonald's Zurich with OTI Saturn
6000 and Hypercom T2100 FORT LEE, N.J. and PHOENIX, April 10
/PRNewswire-FirstCall/ -- On Track Innovations Ltd, (OTI)
(NASDAQ:OTIV), a global leader in contactless microprocessor-based
smart card solutions, together with high security electronic
transaction solutions provider Hypercom Corporation (NYSE:HYC), and
Hypercom's Swiss partner, Commtrain Card Solutions AG, today
announced that their contactless payments system performed what is
considered the first EMV (JCB, MasterCard Worldwide and Visa
International standard) contactless transaction in Europe,
according to Swiss technology standards and rules. The transaction
was believed to be the fastest secured transaction to- date, taking
less than 0.5 seconds. The market launch of contactless card
payment technology in Switzerland is projected to commence this
year, following pilots in Zurich, Lausanne and Lugano. The
transaction was initiated on March 29 by MasterCard(R) Europe and
the Swiss Bank Aduno Group, in collaboration with McDonald's(R)
restaurant, in Stadelhofen, Zurich. The transaction was conducted
utilizing OTI's Saturn 6000 and Hypercom's T2100. Oded Bashan,
Chairman, President & CEO, OTI, commented: "We are honored to
participate in the contactless EMV programs in Europe. Our
participation in the first contactless EMV transaction together
with Hypercom and Commtrain further validates the high level of
security and superiority of our products utilizing the cutting edge
patented technology of OTI, offering efficiency and convenience to
global users." "Utilizing a Hypercom Optimum terminal, the
transactions are incredibly fast," said Michael Hartmann, CEO of
Commtrain Card Solutions AG. "It was a great pleasure to observe
the customer's reaction at the point of sale, the speed is
amazing." Kazem Aminaee, Senior Vice President & General
Manager of Hypercom EMEA said: "Commtrain's integration of Hypercom
and OTI's high security contactless payment products is a win-win
for merchants and consumers who want the speed and security of
faster check-out lines throughout Europe." The Saturn 6000 supports
contactless payments programs from other major financial
institutions, including Visa (TM) contactless program, ExpressPay
from American Express (TM) and Discover (TM) Zip as well as
programs for mass transit ticketing, MIFARE, loyalty, third party
applications, and more. OTI's Saturn 6000 is a stylishly designed
reader, available in multiple colors and its large LCD display
allows for dynamic graphic support, configurable images, and two
lines of characters to be programmed in multiple languages. Its
plug- and-play design and small footprint allow for easy
installation and multiple configurations: The reader can be placed
on the countertop, it can be wall- mounted or it can lie flat. The
Saturn 6000 is an exceptionally fast reader with built in
encryption capabilities developed to address the specific needs of
the global contactless markets and the enhanced security required
in EMV markets. Hypercom's Optimum T2100 is a high-speed countertop
terminal based on a 32-bit RISC processor with 12 megabytes of
memory and dial communication to speed installation and ease
migration. The innovative device features integrated EMV-compliant
smart card reader, built-in printer, support for multiple languages
and currencies, and hand-over design and graphical interface that
guides cardholders through transactions with clear prompts. About
OTI Established in 1990, OTI (NASDAQ:OTIV) designs, develops and
markets secure contactless microprocessor-based smart card
technology to address the needs of a wide variety of markets.
Applications developed by OTI include product solutions for
petroleum payment systems, homeland security solutions, electronic
passports and IDs, payments, mass transit ticketing, parking,
loyalty programs and secure campuses. OTI has a global network of
regional offices to market and support its products. The company
was awarded the Frost & Sullivan 2005 and 2006 Company of the
Year Award in the field of smart cards. For more information on
OTI, visit http://www.otiglobal.com/. About Hypercom Global payment
technology leader Hypercom Corporation delivers a full suite of
high security, end-to-end electronic payment products and services.
The company's solutions address the high security electronic
transaction needs of banks and other financial institutions,
processors, large scale retailers, smaller merchants, quick service
restaurants, and users in the transportation, healthcare, prepaid,
unattended and many other markets. Hypercom solutions enable
businesses in more than 100 countries to securely expand their
revenues and profits. For more information on Hypercom, visit
http://www.hypercom.com/. About Commtrain Card Solutions AG,
Switzerland Since 2002, Commtrain makes the point of sale more
profitable for its customers by delivering terminal solutions and
services which reduce costs and generate new revenues. As a
specialist in electronic payment transactions, thousands of
companies in Switzerland trust in our technology and customer
support services. Together with our partners we adapt smoothly to
the rapid evolution of technology while maintaining constant focus
on the changing business needs of our clients. For more information
on Commtrain, please visit our website at http://www.commtrain.ch/.
Safe Harbor for Forward-Looking Statements: Hypercom and Optimum
and Design are registered trademarks of Hypercom Corporation. All
other products or services mentioned in this document are
trademarks, service marks, registered trademarks or registered
service marks of their respective owners. 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. 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. For example, forward-looking statements include
statements regarding our goals, beliefs, future growth strategies,
objectives, plans or current expectations. Forward- looking
statements could be impacted by failure of the Saturn 6000 to
result in expected revenues, market acceptance of new and existing
products and our ability to execute production on orders, as well
as the other risk factors discussed in OTI's Annual Report on Form
20-F for the year ended December 31, 2005, which is on file with
the Securities and Exchange Commission. Although OTI believes that
the expectations reflected in such forward-looking statements are
based on reasonable assumptions, it can give no assurance that its
expectations will be achieved. 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. HYCP OTI
Contact: Galit Mendelson Director of Corporate Communications 201
944 5200 ext. 111 Hypercom Contact: Pete Schuddekopf Hypercom
Corporation 602.504.5383 Commtrain Contact: Christian Baumberger
Commtrain Card Solutions AG Contact: +41 71 914 40 20 DATASOURCE:
On Track Innovations Ltd.; Hypercom Corporation CONTACT: Galit
Mendelson, Director of Corporate Communications for OTI,
+1-201-944-5200, Ext. 111; or Pete Schuddekopf of Hypercom
Corporation, +1-602-504-5383, ; or Christian Baumberger, Commtrain
Card Solutions AG, +41-71-914-40-20, Web site:
http://www.otiglobal.com/ http://www.commtrain.ch/
http://www.hypercom.com/
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