Readers Geared Towards Traditional Retailers, Transportation, Vending Markets and Supports Contactless EMV Requirements
FORT LEE, N.J., March 24 /PRNewswire-FirstCall/ -- On Track Innovations Ltd., (OTI) (NASDAQ:OTIV), a global leader in contactless microprocessor- based smart card solutions, for payments, petroleum payments, homeland security, and other applications, today announced that its Saturn 5000 and Saturn 6000 contactless readers have received certification from Alliance Data. The readers can support global contactless EMV applications published by MasterCard and Visa, Mifare technology, and non-EMV contactless payment programs from other major financial institutions, including ExpressPay from American Express and Discover.
Alliance Data is a leading provider of loyalty and marketing solutions derived from transaction-rich data, and provides payment services across several industry verticals. "We look forward to working and supporting a leading player such as Alliance Data. Receiving Class A certification is another milestone in achieving leadership in the payments market -- and will enhance the nationwide support for those merchants adding the OTI Saturn 5000 or Saturn 6000 contactless readers, creating a secured seamless upgrade path to contactless transactions," said Oded Bashan, Chairman & CEO, OTI.
The Saturn 5000 and Saturn 6000 approval is for Alliance Data's consolidated countertop application running on the Ingenico i5100, and VeriFone's Omni 3740/3750/Vx510/Vx570 platforms. Alliance Data certification includes merchant deployment, profile setup and download, documentation and specially trained 24 x 7 x 365 help desk support, making the Saturn 5000 and Saturn 6000 easy to implement and maintain for Alliance Data acquirers and Independent Sales Organizations and their merchants.
About Alliance Data Alliance Data (NYSE:ADS) is a leading provider of marketing, loyalty and transaction services, managing over 120 million consumer relationships for some of North America's most recognizable companies. Using transaction-rich data, Alliance Data creates and manages customized solutions that change consumer behavior and that enable its clients to create and enhance customer loyalty to build stronger, mutually beneficial relationships with their customers. Headquartered in Dallas, Alliance Data employs over 9,000 associates at more than 60 locations worldwide. Alliance Data's brands include AIR MILES(R), North America's premier coalition loyalty program, and Epsilon(R), a leading provider of multi-channel, data-driven technologies and marketing services. For more information about the company, visit its website, http://www.alliancedata.com/.
About OTI Established in 1990, OTI (NASDAQ:OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.
For more information on OTI, visit http://www.otiglobal.com/, the content of which is not part of this press release.
Safe Harbor for Forward-Looking Statements: This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations, such as those regarding the expected outcome as a result of our receipt of certification from Alliance Data. Forward-looking statements could be impacted by market acceptance of new and existing products and our ability to execute production on orders, as well as the other risk factors discussed in OTI's Annual Report on Form 20-F for the year ended December 31, 2006, which is on file with the Securities and Exchange Commission. Although OTI believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.
OTI Contact: Investor Relations
Galit Mendelson Miri Segal
Director of Corporate Communications Strategic Growth International
201 944 5200 ext. 111 212 838 1444
DATASOURCE: On Track Innovations Ltd.
CONTACT: Galit Mendelson, Director of Corporate Communications, On Track Innovations Ltd., +1-201-944-5200 ext. 111, ; or Investor Relations, Miri Segal of Strategic Growth International, +1-212-838-1444, , for On Track Innovations Ltd.
Web site: http://www.otiglobal.com/ http://www.alliancedata.com/
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