Technology Stocks : On Track Innovations Ltd. (OTIV)
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From: JakeStraw11/18/2013 9:40:52 AM
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ABnote and OTI Partner to Enable NFC Payments for ABnote's Mobile Wallet Offering

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."
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