ABnote and OTI Partner to Enable NFC Payments for ABnote's Mobile Wallet Offering
19 November 2013 - 1:00AM
Marketwired
ABnote and OTI Partner to Enable NFC Payments for ABnote's Mobile
Wallet Offering
ABnote Will Demonstrate the Solution at the Paris Cartes Secure
Connexions Event on November 19-21
FORT LEE, NJ and ROSH PINA, ISRAEL--(Marketwired - Nov 18, 2013)
- ABnote, a leading global card manufacturer and provider of
financial and secure credentialing solutions, and On Track
Innovations (OTI) (NASDAQ: OTIV), a global leader in contactless
transactions and near-field communication (NFC), have signed an
initial business and technical collaboration agreement. As part of
the agreement, ABnote will offer OTI's new WAVE device, the
industry's first audio jack plug-in component for smartphones,
tablets and PCs, to enable NFC payment within ABnote's mobile
wallet offering.
Based on OTI's patented NFC technology, the WAVE solution is
device agnostic, allowing users to employ their smartphone, tablet
or other device for secure payment and other transactions. ABnote's
mobile solutions rely on an open architecture, and are managed by
its MasterCard® and Visa® certified Trusted Service Manager (TSM),
which guarantees maximum flexibility and scalability.
As an end-to-end scalable and turnkey solution, the OTI and
ABnote NFC-enabled solution provides comprehensive and affordable
EMV mobile issuance. ABnote's wallet and OTI's WAVE device can be
privately labeled and personalized with a payment card application
as well as other services, including healthcare, transit, access
control, and loyalty card applications.
"OTI's WAVE device expands our capabilities for secure NFC-based
payments," said John Ekers, global CIO of ABnote. "The small form
factor, core functionality and ease of use, combined with its
versatility, make the WAVE solution a great fit for our mobile
wallet offering. This aligns well with our strategic approach -- to
offer scalable and customizable open solutions. The ability for
OTI's WAVE to work on any device, coupled with the secure
credential provisioning of the ABnote TSM, allows merchants and
issuers to affordably reach all of their customers, while ensuring
the security of the data during the enrollment process."
Ofer Tziperman, OTI's CEO, commented, "We are excited to
collaborate with ABnote and contribute more than 20 years of
experience providing field-proven NFC payment solutions. As new
players enter the cashless payment space, we are partnering with
companies like ABnote to ensure that financial institutions have
the technology and know-how to leverage innovations and retain
leadership in the financial arena."
ABnote will be demonstrating the integrated solution at booth 92
in Hall 4 at the Paris Cartes Secure Connexions Event on November
19-21, 2013. Cartes is the leading international exhibit and
conference for payment and identification solutions.
About ABnote ABnote, with facilities in North America, Europe,
Africa, and Australasia, is a premier and trusted provider of
secure products and solutions. We provide solutions to global
customers including financial, retail, government, and many other
commercial markets. ABnote's primary products include financial
cards (Dual Interface, EMV, magnetic stripe), identification and
credential cards (Drivers' Licenses, National ID cards, Student
ID), transit cards, hotel, facility and theme park access
cards and membership programs, retail plastic cards (gift, loyalty,
RFID), barcodes and labels and secure documents (vital records,
certificates, passports, and more); along with complimentary secure
services, including instant card issuance, NFC mobile payments,
TSM, personalization, secure warehousing, distribution and
fulfillment.
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 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.
ABnote Company Contact: Leslie Wengenroth American Banknote +1
617-363-4200 Email Contact OTI Investor Contact: Scott Liolios or
Matt Glover Liolios Group, Inc. 949-574-3860 Email Contact
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