ROSH PINNA, Israel, Jan. 10,
2018 /PRNewswire/ --
- OTI's UNO-8 reader receives EMVCo certification for Visa &
Mastercard
- OTI delivered more than 10,000 advanced UNO-8 readers in
2017
- OTI is one of the select few contactless vendors to have been
granted modular Level 2 Type approval for both major financial
services
On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global
provider of near field communication (NFC) and cashless payment
solutions.
OTI's UNO-8 (SATURN 8700) has been granted EMVCo
Contactless Level 2 Type Approval for EntryPoint module, and
for Visa and Mastercard (Kernels C2 and C3). These approvals
were provided under the new EMVCo modular architecture. These new
additions to the UNO-8 add to the previous FeliCa
certification.
The advanced Modular structure provides OTI's customers with the
ability to deploy upgrades or additional applications and features
to its existing reader installation base without requiring
recertification of the entire terminal. The Modular architecture
including Visa and Mastercard, enables OTI's Original Equipment
Manufacturer (OEM) customers to leverage existing Level 2 approvals
for their use while optimizing the certification process.
"This innovative modular architecture achievement confirms OTI's
commitment to providing its clients with the most advanced
technologies while maintaining the strict security standards," says
OTI CEO Shlomi Cohen. "FeliCa, Visa,
and Mastercard certifications strengthen our commitment to our
global strategy, creating cost-efficient solutions and products
that support today's important modular requirements."
For more information regarding the approvals granted by
EMVCo, please see EMVCo's list of Approved Contactless
Products.
EMVCo approval of the Contactless Product contained in this
product shall mean only that the Contactless Product has been
tested in accordance and for sufficient conformance with the EMV
Specifications, Version 2.6, as of the date of testing. EMVCo
approval is not in any way an endorsement or warranty regarding the
completeness of the approval process or the functionality, quality
or performance of any particular product or service. EMVCo does not
warrant any products or services provided by third parties,
including, but not limited to, the producer or provider of the
Contactless Product and EMVCo approval does not under any
circumstances include or imply any product warranties from EMVCo,
including, without limitation, any implied warranties of
merchantability, fitness for purpose, or noninfringement, all of
which are expressly disclaimed by EMVCo. All rights and remedies
regarding products and services which have received EMVCo approval
shall be provided by the party providing such products or services,
and not by EMVCo and EMVCo accepts no liability whatsoever in
connection therewith.
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," "would,"
"will," "would," "can" 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, and deliver 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. The reader is cautioned not to place
undue reliance on forward-looking statements.
OTI Press Contact
Richard Harris
Marketing Manager
+972-4-686-8004
press@otiglobal.com
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SOURCE On Track Innovations Ltd. (OTI)