Technology Stocks : On Track Innovations Ltd. (OTIV)
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From: JakeStraw1/14/2014 9:09:33 AM
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OTI Begins Shipping New Order of 10,000 NFC Readers to Major U.S. Unattended Point of Sale System Integrator

Total OTI Saturn Readers Sold Surpasses 600,000 Unit Milestone

"This win represents another example of our NFC readers meeting the demanding needs of our global customers and partners," said Ofer Tziperman, the company's CEO. "A key determining factor in establishing this valuable new relationship was our ability to quickly customize our Saturn reader to meet the customer's unique specifications under a strict timeline. This capability, coupled with our highly reliable and secure NFC technology, continues to provide significant competitive advantages where we are able to supplant existing competitive technology as well as create new opportunities for implementing our patented NFC-based systems."

The $50 billion unattended machine market presents a tremendous growth opportunity for OTI. There are more than 30 million food and drink vending machines worldwide, with a vast majority lacking cashless transaction capabilities. This is in addition to the increasing number of ticket machines, parking meters, supermarket self-checkouts, Laundromats, photo kiosks, internet access terminals, bike kiosks and other locations that involve unattended cashless transactions
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