Technology Stocks : On Track Innovations Ltd. (OTIV)
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From: JakeStraw1/20/2015 8:49:05 AM
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oti WAVE NFC Payment Solution Adopted by Taiwanese Banking Consortium

oti Channel Partner, Tradelink Electronic Commerce, to Deliver WAVE as Part of Major Mobile Payment Deployment in Taiwan

The deployment includes oti's NFC-based WAVE audio-jack plugin device for smartphones, tablets and PCs. The patented WAVE device enables banking customers to perform NFC payment transactions, effectively transforming their devices into digital wallets. It also gives banks control over the Secure Element, eliminating dependency on third-party organizations like mobile network operators. As a common cross platform add-on, WAVE enables the desired flexibility to meet the Taiwanese market needs.

Certified by MasterCard and Visa, WAVE is the industry's first audio jack plug-in NFC payment solution, and the only one to receive certification from the major card associations. WAVE connects to the device's operating system via the audio jack, allowing for PIN code authentication and Over-the-Air capabilities, including reloading cash electronically, checking balances, remote personalization, and downloading new applications.

Users can add approved credit cards, payment cards, and loyalty cards to their new digital wallets via oti's patented and secure technology. This capability allows retailers to implement real-time value-added services like loyalty programs, location-based advertisements, and promotions.
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