Technology StocksOn Track Innovations Ltd. (OTIV)

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From: JakeStraw6/5/2014 8:44:24 AM
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oti Lands Five-Year Arlington County Cashless Parking Contract

EasyPark from oti will help county better manage more than 5,000 parking spaces; allows drivers to skip meters and pay only for the time they are actually parked

“It’s an exciting time for oti as we begin working with Arlington County, augmenting our strong presence abroad with more and more customers in the US. It’s all part of our continuing strategy of entering long-term public/private partnership contracts for municipal parking management,” said Ofer Tziperman, CEO of oti.

Arlington County will begin deploying EasyPark devices early next month. Using EasyPark is simple: The user loads the device with funds through a bank account, and then activates the device and hangs it inside the vehicle while parked. Payment is automatic, and the user is charged only for the actual time spent in the parking space. The system eliminates overpayments to meters, “meter feeding,” and drivers having to walk to a central ticket dispenser and payment device.

EasyPark is already deployed in a variety of other US cities, including Austin, Texas, Manchester, Portsmouth and Dover, New Hampshire, and is in several more pilots across the nation. Since its introduction globally 15 years ago, EasyPark has been deployed in more than 160 municipalities worldwide. oti has sold more than 1,000,000 in-vehicle parking meter devices worldwide since introducing EasyPark.

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From: JakeStraw7/22/2014 9:28:31 AM
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oti Receives $6.2 Million Order for Cashless Payment Readers

oti will deliver the NFC readers over the next 18-months, with the first shipments beginning immediately. The shipments will include multiple types of oti readers geared specifically for the self-serve market.

"This order represents the second largest Saturn 6500 readers win in our company history, as well as another strong endorsement of our solutions for this important growth market," noted Ofer Tziperman, oti's CEO. "Our highly reliable and secure NFC technology combined with other cashless payment solutions, 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."

Based on an expanding pipeline of business demonstrated by shipments year-to-date and additional secured orders, the company continues to expect to deliver more than 150,000 oti NFC readers in 2014 or an increase of more than 35% annually.

Gonen Ziv, president of oti America, added: "Our accelerating sales momentum and growing industry adoption of our solutions confirms that the market is at a tipping point in the adoption of cashless payment solutions in the self-serve and unattended market. We believe our cutting-edge solutions, dedicated customer service and aggressive pricing strategy are beginning to pay off. In fact, we expect a number of new strategic customers in North America to start sourcing our cashless payment readers this year."

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From: JakeStraw8/14/2014 9:01:22 AM
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oti Reports 58% Revenue Increase for Second Quarter 2014

Q2 2014 Operational Highlights

Launched Trio modular payments reader, which handles multiple payment methods in a single solution for the growing self-service markets. Received an initial commercial order from Vianet for oti's new Trio modular payment reader. Vianet plans to initially install the readers in vending machines in Europe starting Q3 2014. oti PetroSmart was awarded a major 15-year contract from a government ministry in Southern Africa to supply its EasyFuel Plus management system. Signed a five-year contract to help manage more than 5,000 on-street parking spaces in Arlington County, Virginia. Signed a 20-year contract to co-manage the parking operations for Elbasan, a city in central Albania. Expanded the capabilities and use of the 84 transit ticket vending machines operated by oti's electronic ticket systems subsidiary, ASEC S.A., for the Mazovia Railway System in Poland.

Q2 2014 Financial Highlights

Revenues in the second quarter of 2014 increased 38% sequentially and 58% from the same year-ago period to $7.2 million. The significant improvement was primarily driven by NFC readers sold to the U.S. market and first deliveries of oti's Wave device to Asia. Gross profit in the second quarter of 2014 increased 26% to $3.3 million (46% of revenue) from $2.6 million (58% of revenue) in the same year-ago period. Total operating expenses in the second quarter of 2014 were $5.3 million compared to $5.0 million in the same year-ago period. The slight increase was primarily due to higher sales and marketing expenses designed to accelerate oti's growth, offset by a 20% decrease in general and administrative expenses. Net loss from continuing operations in the second quarter of 2014 totaled $2.3 million or $(0.07) per share, an improvement from a net loss from continuing operations of $2.6 million or $(0.08) per share in the same period last year. Adjusted EBITDA loss from continuing operations in the second quarter of 2014 totaled $1.0 million, a significant improvement from an adjusted EBITDA loss from continuing operations of $1.8 million in the same year-ago period (see discussion about the presentation of adjusted EBITDA from continuing operations, a non-GAAP term, below). At quarter-end, cash and cash equivalents, and short-term investments totaled $10.6 million.

Management Commentary

"During Q2 we made strong progress executing on our plan to grow our core cashless payment solutions business," said the company's CEO Ofer Tziperman. "This was demonstrated by the 58% revenue increase in the quarter, driven by our industry-leading technology and expanded salesforce.

"The quarter was also highlighted by several customer wins across all of our verticals. This included the first order for our new Trio modular reader.

"We plan to build on this operational and financial momentum and take advantage of the strong industry tailwinds in the cashless payments space.

"Given this tremendous market opportunity, coupled with our focus and leaner, highly capable team, we continue believe we will be able to deliver at least 30% revenue growth in 2014, as well as achieve positive adjusted EBITDA on a quarterly basis by Q1 2015."

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From: JakeStraw8/18/2014 8:49:43 AM
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OTI PetroSmart Awarded Multiple Local Government Tenders in South Africa

OTI PetroSmart will deploy its EasyFuel Plus contactless solution to facilitate automated refueling at various local government "home base" sites in South Africa. Mobile bowsers (fuel trucks) will also be equipped to facilitate the automated refuelling of other fleet items, such as plant equipment. The initial contract is valued at $500,000, which includes hardware and on-going monthly revenues for site monitoring, fuel management reporting, account management, and bureau services.

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From: JakeStraw8/26/2014 8:51:30 AM
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oti America Receives $800K Order for NFC Readers From New Channel Partner for the Self-Service Market

"This win is our third major new U.S. channel partnership in 2014," said Gonen Ziv, president of oti America. "It also marks our entrance into a new multi-billion dollar self-service market, which is in the early stages in its conversion to cashless payment solutions.

"Our Saturn 6500 NFC readers' family are the ideal solution for all self-service industries. When integrated on different machines it presents patrons with a quick and easy way to pay.

"There is no doubt this new market represents a big opportunity for oti. We are confident our solutions will become the 'de facto standard' cashless payment technology for this multi-billion dollar industry. We expect to build on this momentum over the months and years ahead."

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From: JakeStraw9/10/2014 9:47:19 AM
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oti Offers Unique NFC and Cashless Payment Solutions for Earlier-Generation Apple iPhones

On Track Innovations Ltd., a global provider of near field communication (NFC) and cashless payment solutions, is piloting its new WAVE and NFC Insert mobile add-on devices with several banks and mobile network operators as the ideal way to add NFC payment capabilities to Apple iPhone 4, 4s, 5, 5s and iPad devices.

Using the oti WAVE solution, card issuers, handset original equipment manufacturers, and mobile operators are able to offer NFC-enabled mobile payment solutions to new and existing iPhone models.

The secure element of oti's WAVE device connects to a Smartphone's operating system via the audio jack, allowing PIN code authentication and secure over-the-air (OTA) provisioning capabilities, including loading of card data, reloading electronic cash, remote personalization, firmware updates, and the ability to add new secure applets.

WAVE runs on a Java-based software over a secure element and provides open application interfaces (API) for third-party development. It supports multi-applications for payment, credit, debit and pre-paid cards, loyalty, healthcare, access control and security, all on the same device. WAVE can also work independently from the iPhone for making quick payments like at mass transit turnstiles. WAVE is currently commercially deployed at various global financial institutions, and is in pilot deployments with mobile operators and mass transit providers.

oti's NFC Insert is another off-the-shelf NFC-enablement solution comprised of a thin film NFC antenna that connects to the iPhone operating system via the SIM card. The antenna folds onto the backside of the iPhone where it is protected by any standard case. Several mobile operators around the world are currently piloting this cleverly unobtrusive NFC add-on.

"With the launch of Apple's iPhone 6, the oti WAVE becomes the leading cost-effective solution for existing iPhone and iPad models that enables secure NFC payment transactions," said oti's CEO, Ofer Tziperman. "Apple's adoption of NFC technology is a strong validation of our long-term vision and investment in NFC technology, as well as that of our partners and business customers."

"We expect Apple's NFC-equipped iPhone 6 and Apple Watch will drive stronger demand for our NFC readers in the unattended and self-service market," continued Tziperman. "We remain ideally positioned in this growing market with the most comprehensive and cost-effective solutions, which are certified by all major payment card associations."

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From: SI Ron (Soup Nazi)9/12/2014 12:38:30 PM
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From: JakeStraw9/23/2014 8:39:27 AM
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ABnote, Employing the oti WAVE Device, Launches Major NFC Electronic Payment Pilot With Leading North American Financial Institution

oti's WAVE, Powered by ABnote's Certified TSM, Adds NFC Payment Capabilities to Apple iPhone and Android Mobile Devices

About the size of a standard car key fob, oti's WAVE device uses the audio jack as an easy, cost-effective way to add NFC capability to virtually any Smartphone or tablet, including Apple iPhones, iPads, and Android-based mobile devices. Once configured, it can also operate independently, allowing users to keep the WAVE on their keychain to make secure transactions with a simple 'wave' of the device over any NFC reader.

The WAVE has received certification from major payment companies, including Visa® and MasterCard®. ABnote's mobile solution is managed by its MasterCard®- and Visa®-certified Trusted Service Manager (TSM), which has been designed with an open architecture, to guarantee maximum customer flexibility and scalability.

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From: JakeStraw10/30/2014 8:45:52 AM
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oti Launches Uno, the Industry's Most Compact Multi-Purpose NFC Payments Reader

Uno Enables NFC Capability for Existing POS Terminals and Unattended and Self-Serve Machines

With an ultra-compact form factor and a rich feature set, Uno is the ideal solution for meeting the complete range of NFC cashless payment industry requirements. The reader, which is in the certification process by the major card associations, was designed specifically for attended and unattended retail environments. Uno's unique form-factor and features enables easy integration and installation in unattended self-service payment stations, including ATMs, add value machines, ticket vending machines, gaming and gambling machines, kiosks, access control, mass transit gates and more.

The reader's plug-and-play design makes it easy to connect to existing payment infrastructure and point-of-sale terminals, instantly upgrading them to seamlessly accept contactless cards and NFC-based mobile payments from Apple Pay and Softcard. Uno also has the option to be USB-powered, which facilitates easy installation and maintenance.

"With the Uno, we were able to apply our deep industry experience and patented NFC technology to develop the industry's most compact NFC reader, while meeting the strictest payment certification requirements," said oti CEO, Ofer Tziperman. "Uno's unique design, ease of installation and competitive price point creates the perfect solution for the retail industry that is undergoing a contactless mobile payments revolution."

"Uno opens large global markets for us," continued Tziperman. "Following the launch of Apple Pay, we see accelerating demand in the market for advanced and cost-effective NFC readers for the unattended and self-serve markets, as well as for the countertop attended market. And we've already hit the ground running with Uno, with strong interest and demand for the device coming from several major prospective customers who have been allowed a sneak preview."

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From: JakeStraw11/4/2014 9:01:12 AM
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New oti TRIO Cashless Payment Reader Receives Industry-Wide Certification for Major Credit Card Transactions

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