On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has received a renewed Interbank Network Interac certification, which now allows Canadian businesses to integrate OTI's secure cashless payment solutions into vending machines, kiosks and other unattended devices throughout Canada.
Interac Corp. operates an economical, world-class debit payments system with broad-based acceptance, reliability, security, and efficiency. The organization is one of Canada's leading payments brands and is chosen an average of 16 million times daily to pay and exchange money.
"We are pleased to announce that we have received the Interac certification, reaffirming our commitment to remain at the forefront of innovation within the exciting Canadian unattended payment market," said Shlomi Cohen, CEO of OTI. "Canada has over 59,000 automated teller machines and over 450,000 merchant locations accessible through the Interac network, making this certification essential to doing business in Canada. I look forward to addressing this significant market opportunity by leveraging our continued technological advantage and aggressive new sales efforts nationwide," concluded Cohen.
About OTI
On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology. OTI's field-proven innovations have been deployed around the world to address cashless payment and management requirements for the Internet of Payment Things (IoPT), wearables, automated retail, and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel. For more information, visit www.otiglobal.com.
