ROSH PINNA, Israel, June 13,
2019 /PRNewswire/ -- On Track Innovations Ltd.
(OTI) (NASDAQ: OTIV), a global provider of near field
communication (NFC) and cashless payment solutions, today announced
that it received a purchase order for 1,000 cashless payment
systems from Japan via its
partner, Billing Systems Cooperation, a leading regional payment
service provider.
Commented Shlomi Cohen, CEO of
OTI, "We continue to broaden our footprint in the vast Japanese
unattended retail market, and with a potential of six million units
countrywide the total size of the Japanese electronic vending
machine market is very significant for us. This gives us a
substantial runway to continue our growth together with our
strategic partner. With more than 10,000 OTI systems already
operational in the Japanese market, we look at this new order as a
reassurance of a continued and growing stronghold in the area."
The systems ordered included OTI's UNO Plus EMVco and FeliCa
contactless reader as well as the GoBox Multi-Service Telemetry
Gateway. OTI's GoBox is a powerful Machine-to-Machine (M2M)
controller, payment gateway, and multi-services enabler for
unattended machines, providing innovative new revenue streams for
vending operators.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other Federal securities laws. Whenever we use words such as
"will," "expect," "intend," "plan," or similar expressions,
we are making forward-looking statements. For example, we are using
forward-looking statements when we discuss our expectations
regarding broaden our footprint in the vast Japanese unattended
retail market, continue our growth together with our strategic
partner and looking at this new order as a reassurance of continued
and growing stronghold in the area. 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. Additional factors that could cause actual results to
differ materially from those anticipated by our forward-looking
statements are stated under the captions "Risk Factors" in our most
recent Annual Report (Form 10-K) and other known and unknown
uncertainties and risk factors including those detailed from time
to time in the Company's filings with the Securities and Exchange
Commission. Forward-looking statements are made as of the
date of this release, and we expressly disclaim any obligation or
undertaking to update forward-looking statements. The reader is
cautioned not to place undue reliance on forward-looking
statements.
OTI Press Contact:
Richard
Harris
Marketing Manager
+972-4-686-8004
press@otiglobal.com
Investor Relations Contact:
Gavriel Frohwein
+1-646-688-3559
oti@gkir.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/oti-receives-new-purchase-order-for-1-000-cashless-payment-systems-for-the-japanese-unattended-retail-market-300867021.html
SOURCE On Track Innovations Ltd. (OTI)