Turkcell, Turkey's Largest Mobile Network Operator Selects OTI's COPNI Mobile Payment Product for Turkcell's NFC Program
05 May 2011 - 10:00PM
OTI is Working With E-Kart Electronic
Card Systems to Provide the Add-On to Turkcell
Turkcell Has Over 33 Million Subscribers
in Turkey
On Track Innovations Ltd. (OTI) (Nasdaq:OTIV), a global leader in
contactless smart card solutions, today announced that Turkcell,
Turkey's largest mobile network operator with over 33 million
subscribers, has chosen OTI's COPNI mobile payment solution for its
near field communication (NFC) program, that is launched as
"Turkcell Cep-T Cuzdan".
Turkcell has commenced a rollout of an NFC program, with initial
focus on contactless payment applications that will enable to
increase transaction flow and provide additional business, as well
as strengthen even further Turkcell's position as a leading
technology and service provider for the Turkish market.
OTI's COPNI™ (Contactless Payment and NFC Insert) enables
Turkcell's own branded handset the T10 to support NFC functionality
and contactless payment applications from major card associations.
Following payment applications, other applications such as
transportation, ticketing or loyalty will be available to Turkcell
Cep-T Cuzdan subscribers by the end of the year, and customers will
experience the real wallet concept with the convenience of their
mobile equivalent.
A COPNI-enabled mobile phone is a platform that enables mobile
network operators (MNOs) to provide a true after-market solution to
existing subscribers, filling the gap between the demand and lack
of handsets with embedded NFC. Simply tapped near a contactless
reader, the COPNI-enabled mobile phone can be used in a broad range
of payment transactions including prepaid, credit and debit, as
well as loyalty programs and other NFC related applications.
E-Kart General Manager Enver Irdem quoted: "NFC is an ecosystem
that delivers security and confidentiality to the inhabitants such
as financial institutes, GSM operators, transport companies, ad
agencies, individual end users etc. each with their own
requirements and expectations. E-Kart, manufacturing and
personalizing banking, gsm and transportation cards as the market
leader for the past 10 years both in Turkey and as one of the
Trusted Service Managers (TSM) in the region, offers a complete one
stop NFC solution for the ecosystem.
"OTI's COPNI™ (Contactless Payment and NFC Insert) enables
E-Kart to deliver security, reliability, flexibility and
portability to our customers within the ecosystem."
Oded Bashan, Chairman and CEO of OTI, commented: "We are happy
to work with Turkcell, providing them the ability to offer NFC with
applications such as payment and transit, for different models in a
true after market, cost-effective solution. OTI is working in
Turkey for several years, providing its contactless payment
products to multiple issuers and retailers."
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 and
loyalty programs. 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 www.otiglobal.com, the
content of which is not part of this press release.
The On Track Innovations Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5736
About TURKCELL
Turkcell is the leading communications and technology company in
Turkey with 33.1 million subscribers and a market share of
approximately 54% as of March 31, 2011 (Source: Our estimations,
operators' and Authority's announcements). Turkcell is a leading
regional player, with market leadership in five of the nine
countries in which it operates with its approximately 60.4 million
subscribers as of March 31, 2011. Turkcell reported a TRY2.1
billion (US$1.3 billion) net revenue with total assets of TRY15.2
billion (US$9.8 billion) as of March 31, 2011. Turkcell covers
approximately 83% of the Turkish population through its 3G and
99.07% through its 2G technology supported network. It has become
one of the first among the global operators to have implemented
HSDPA+ and achieved a 42.2 Mbps speed using the HSPA multi carrier
solution. Turkcell has been listed on the NYSE and the ISE since
July 2000, and is the only NYSE-listed company in Turkey. 51.00% of
Turkcell's share capital is held by Turkcell Holding, 0.05% by
Cukurova Holding, 13.07% by Sonera Holding and 1.19% by others,
while the remaining 34.69% is free float.Read more at
www.turkcell.com.tr.
Safe Harbor for
Forward-Looking Statements:
This press release may contain forward-looking statements within
the meaning of the "safe harbor" provisions 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, growth potential of our contactless payment
solutions in Turkey and regarding the superiority of our products
or current expectations such as those regarding the growth of
Turkcell's NFC program. Forward-looking statements could be
impacted by 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, 2010 , 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. 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.
CONTACT: OTI Contact:
Galit Mendelson
Vice President of Corporate Relations
732 429 1900 ext. 111
galit@otiglobal.com
Investor Relations:
Miri Segal
MS-IR LLC
917-607-8654
msegal@ms-ir.com
Media Relations:
Christa Conte/Henry Feintuch
Feintuch Communications
212-808-4902/212-808-4901
oti@feintuchpr.com
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