Technology Stocks : On Track Innovations Ltd. (OTIV)
OTIV 1.060+1.0%Jul 20 8:00 PM EDTNews

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From: JakeStraw2/26/2014 8:37:10 AM
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oti Granted New U.S. Patent for Multi-Application Contactless Smart Card

The new U.S. patent No. 8,651,387, titled "Multi-Application Contactless Smart Card," describes a multi-application contactless smart card system and method that allows a user to select an application using a unique switching mechanism located on board the smart card. This innovation allows, for example, the accommodation of several 'application cards' on the same physical card.

Generally, smart cards support a single application, such as a particular credit card. However, today's consumers typically carry a variety of credit cards, including a combination of debit and credit cards, fuel cards, high-security identification and access-control cards, public transport payment cards, and drivers licenses. Carrying around these numerous cards can be cumbersome. However, oti's newly patented technology solves this problem by allowing contactless smart cards to support multiple uses.
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