Press Release oti and USA Technologies Ready for Apple Pay

Press Release
For Immediate Release
oti and USA Technologies Ready for Apple Pay
Partners Expect Rollout of Apple Pay to Accelerate Adoption of Cashless and
Mobile Payments in Rapidly Growing Self Serve Retail Market
MALVERN, PA and NEW PROVIDENCE, NJ – October 21, 2014 – USA Technologies Inc.
(NASDAQ: USAT), a solutions provider of secure cashless transactions for unattended point-ofsale and On Track Innovations Ltd. (oti) (NASDAQ: OTIV), a global provider of near field
communication (NFC) and cashless payment solutions, today confirm that oti’s NFC contactless
Saturn 6500 readers deployed in the U.S. with USAT’s ePort solutions are compatible with
Apple Pay, Apple’s new mobile payment service, and will accept payment made by consumers
with Apple Pay.
Apple Pay enables iPhone 6, iPhone 6 Plus, and Apple Watch users to make secure cashless
payments at terminals that support NFC. oti’s Saturn 6500 line of readers was designed
specifically for the unattended self-service market, providing reliable support for quick and easy
electronic payments involving either magnetic strip or contactless transactions.
“We began this work nearly 10 years ago as a valued partner of USA Technologies,” said Gonen
Ziv, president of oti America. “We have seen significant traction in NFC with the introduction of
Softcard and other mobile-based payment wallets, and the sales momentum for our family of
cashless payment readers continues to grow, now fueled also by the introduction of Apple Pay.
We believe that the market is at a tipping point in the transition to NFC-based cashless
payments given their extra level of security and convenience. Thanks to strong channel partners
like USA Technologies, the growing adoption of our NFC based products in the self-serve
markets ideally positions us to capitalize on this multi-billion dollar revolution.”
Cary Sagady, Sr. VP Network Solutions and Product Management for USA Technologies
commented: “oti has been a great strategic partner for us. Our shared vision for the future of
NFC enabled cashless payments has enabled us to work closely together to equip our
customers with cutting-edge hardware and services. Today, these customers are benefitting
from that vision by being able to accept mobile payment on their existing point of sale devices.
For example, based on our experience with mobile payments thus far, the average ticket for
mobile purchases in our customer locations is approximately $1.70, compared to an average
cash ticket of $1.16, and an average credit/debit card purchase of $1.53. While our solutions
using oti NFC technology have long-supported electronic wallets based on Android, BlackBerry
and Windows platform, we anticipate the roll out of Apple Pay will further transform the
industry and accelerate demand for NFC enabled locations as consumer acceptance,
participation at machines and overall sales increases as a result.”
With 150,000 NFC terminals already in the marketplace ready to accept Apple Pay, USA
Technologies is a market leader, and the largest provider of NFC acceptance points in the
unattended machine market.
oti CEO Ofer Tziperman added: “The unattended machine market presents a tremendous
growth opportunity for oti and USA Technologies. There are an estimated $120 billion in
transactions flowing through 15-20 million unattended/self-serve retail locations in the U.S.
alone. This includes millions of locations in commercial laundry, kiosks, ticket machines, parking
meters, Internet access terminals, bike kiosks and other locations that involve unattended
cashless transactions. Additionally, there are more than 30 million food and drink vending
machines worldwide, with a vast majority lacking cashless transaction capabilities. As market
leaders, oti and USA Technologies expect to continue to drive significant growth as consumer
demand for electronic payments continues to grow.”
The Apple Pay compatible oti NFC readers include the Saturn 6000 indoor and desktop reader,
the Saturn 6500 for outdoor applications, and the trio, a new modular payment reader.
About USA Technologies
USA Technologies is a leader of wireless, cashless payment and M2M telemetry solutions for
small-ticket, self-serve retailing industries. ePort Connect® is the company's flagship service
platform, a PCI-compliant, end-to-end suite of cashless payment and telemetry services
specially tailored to fit the needs of small ticket, self-service retailing industries. USA
Technologies also provides a broad line of cashless acceptance technologies including its NFCready ePort® G-series, ePort Mobile™ for customers on the go, and QuickConnect, an API Web
service for developers. USA Technologies has been granted 87 patents and has agreements
with Verizon, Visa, Elavon and customers such as Compass, Crane, AMI Entertainment and
others. Visit the website at www.usatech.com.
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.
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. 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, 2013, 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. The content of the web site links in the PR do not form part of it.
oti Investor Contact:
Scott Liolios or Matt Glover
Liolios Group, Inc.
949-574-3860
[email protected]
oti Press Contact:
Inbar Ben-Hur
oti Marketing Communication Manager
[email protected]
USA Technologies Investor and Press Contacts:
Stephanie Prince/Jody Burfening
LHA
212-838-3777
[email protected]
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