- For OTI’s global installed base of cashless payment readers and new customers
- Video and audio streaming on cashless payment readers increase revenue opportunities for unattended retail operators
- Massive processing power and Linux OS supporting multiple applications
- FeliCa certified and JVMA compliant for colossal Japanese vending market
ROSH PINA, Israel, Dec. 22, 2016 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global provider of near field communication (NFC) and cashless payment solutions, today announced the release of its GoBox – a powerful machine-to-machine (M2M) cashless payment and telemetry gateway. GoBox’s high versatility and easy integration is designed for unattended machine operators who require a modular and powerful M2M gateway with enough processing power to stream Full-HD media and run either Linux or Android. Fully compatible with OTI’s installed base of cashless payment readers, GoBox can benefit OTI’s current and new customers alike.
“Our GoBox is a giant leap forward in what is offered to vending and payment machine operators,” says Neil Barr, Head of Marketing and Innovations at OTI. “This opens up potential new revenue streams allowing operators to sell video advertising space and engage consumers at venues by providing promotions, social media interactions, contests and even gaming. These streams come in addition to the increased revenues expected from accepting cashless and mobile payments. We anticipate GoBox will generate add-on sales revenue for OTI, as it increases revenues for our customers.”
Linux and Android support provides GoBox with great versatility and scalability empowering operators to easily port additional applications to their existing machines. The combination of powerful processing and HDMI allows vendors to take advantage of the latest marketing technology, such as point of sale video advertising, location based promotion and loyalty campaigns. With many markets now mandating vendors disclose product ingredients and nutritional values, GoBox can easily output this information to the cashless reader screen or to a dedicated monitor. GoBox provides several communication options including Bluetooth, Wi-Fi and Ethernet.
GoBox is a completely modular M2M processing platform. GoBox can be customized with single, dual, or quad core processors that can run Linux or Android operating systems. The machine interface can support MDB, DEX, JVMA and other standards. The cellular connectivity module supports 2G to 4G LTE, suitable for rollouts in any region of the world.
Combined with OTI's cashless payment readers, GoBox is the ultimate M2M gateway for machine operators seeking innovative cashless payment and multimedia telemetry solutions.
About OTI
On Track Innovations Ltd. (OTI) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.
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 "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, reduction of costs and expenses, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, contributions of our regions to our growth, resolution of our outstanding patent infringement claims, strengthening of our balance sheet and delivery long-term shareholder value. 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. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2015, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our 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.