OTI’s subsidiary ASEC has received a follow-on order for 1500 additional Verifone’s Omni 3750 terminals with contactless reader solutions for micropayments to be located in one of the largest kiosk chains across Poland. The order follows an earlier announced initial order for 1000 terminals.
ASEC, based in Krakow, Poland, was acquired by OTI in November, 2004.
FORT LEE, N.J., Jan. 5 /PRNewswire-FirstCall/ – On Track Innovations Ltd. (OTI) (Nasdaq: OTIV; Prime Standard (Frankfurt): OT5), a global leader in contactless microprocessor-based smart card solutions for homeland security, micropayments, petroleum payments and other applications, announced that its wholly owned subsidiary, ASEC S.A., received a follow-on order for 1500 additional Verifone’s Omni 3750 terminals with contactless reader solutions for micropayments to be located in one of the largest kiosk chains across Poland. The order follows an earlier announced initial order for 1000
terminals, and creates one of the largest infrastructure for contactless payments in the market, which can support additional applications to meet the needs of stores, hypermarkets, and other commercial enterprises.
Similar to the previous order, the terminals are for a Polish mass transit system and will be operated through a GSM Communications system. Commuters will be able to load funds onto their commuter card to pay for their mass transit tickets and other small ticket-items.
Poland, with a population of about 40 million, recently joined the European Union in May and has a strong need to modernize and ramp-up to the Western European standards, especially with respect to financial and payment systems. Today, there are about 80,000 Point-of-Sale terminals and 7,200 ATM machines located across the country, a small number compared to the size of the country and its growing economy.
Jerzy Fulara, ASEC senior executive commented, “Poland is rapidly developing the financial and payment infrastructure commensurate with Western European institutions, representing a great opportunity for OTI and ASEC to play a major role. Together, we look forward to facilitating additional applications in Poland and serving citizens in other emerging European countries.”
Oded Bashan, President & CEO of OTI, said, “This order demonstrates the value of our earlier acquisition of ASEC – a company that can profitably introduce us to new and growing clients within the emerging European countries market. With its vast commercial potential, we look forward to providing these countries with complete solutions to the three vertical markets of Payment, Petroleum and SmartID.”