OTI and Gilbarco Veeder-Root Provide Integrated Contactless Payment Infrastructure...
* Reuters is not responsible for the content in this press release.
OTI and Gilbarco Veeder-Root Provide Integrated Contactless Payment
Infrastructure for Woolworths "ePump" Program
FORT LEE, N.J., April 20, 2009 (GLOBE NEWSWIRE) -- On Track Innovations Ltd.
(OTI) (Nasdaq:OTIV), a global leader in contactless microprocessor-based smart
card solutions for homeland security, payments, petroleum payments and other
applications, today announced that its contactless reader was selected by
Australia's largest retailer, Woolworths, to support its "ePump" initiative for
payment at the gas station. OTI delivers contactless reader solutions as well as
personalization services that have been integrated into the FlexPay Control
System for Fuel Dispensers supplied by Gilbarco Veeder-Root, leading suppliers
of outdoor payment systems, integrated fuel control, site management, and
support services for petroleum marketers and commercial fueling enterprises
worldwide.
The Gilbarco Veeder-Root - OTI pay-at-the-pump solution has been approved by the
National Measurement Institute (NMI) of Australia and is field-tested. It
combines the unique advantages, know-how and capabilities of OTI's contactless
payment products with Gilbarco's expertise in providing outdoor payment and
forecourt control solutions. The integrated solution provides petroleum
retailers with the ability to quickly and cost effectively upgrade their
infrastructure to accept contactless payments. Most of all, it allows existing
Gilbarco Veeder-Root customers to quickly upgrade their pumps to accept
contactless payments. OTI Africa, managed by Charlotte Hambly-Nuss, is providing
marketing and support for the Australian market.
"ePump", a feature of the Woolworths' Everyday Money credit card ("EDM"),
provides customers with a fast and efficient way of refueling their vehicles at
over 300 participating Caltex Woolworths/Safeway co-branded fuel outlets across
Australia using the contactless feature of the EDM credit card. The integrated
pay-at-pump solution deployed by Gilbarco Veeder-Root nationally is commissioned
and operational.
The objective of the "ePump" program is to provide further convenience to
Woolworths' loyal customers and to help ease congestion on the forecourt.
Instead of queuing up in-store to pay for fuel, EDM credit card holders will be
able to go directly to the pump to fuel their vehicle, with their
loyalty/rewards information sent and verified automatically.
Oded Bashan, Chairman & CEO, OTI, stated, "We are pleased Gilbarco and
Woolworths have selected our contactless payment technology, joining a reputable
list of customers that have adopted OTI's technology. Whilst the Woolworths
"ePump" program is pioneering in its approach, we believe that petroleum
retailers in a number of self-service markets will launch similar programs."
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 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, cost-effectiveness, plans or current expectations,
such as those regarding the expected deliveries to be generated from the orders
from Gilbarco or regarding the superiority of our technology, the
cost-effectiveness thereof or the future spread of similar programs.
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, 2007, 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.
-0-
CONTACT: On Track Innovations Ltd.
Galit Mendelson, Vice President of Corporate Relations
201 944 5200 ext. 111
galit@otiglobal.com
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters