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Yapi Kredi of Turkey Selects OTI's Contactless Reader to Expand Its Contactless Payments Program
(FinancialWire.net Via Acquire Media NewsEdge) (Comment on this article at http://www.financialwire.net/2009/11/27/yapi-kredi-of-turkey-selects-otis-contactless-reader-to-expand-its-contactless-payments-program/)
November 27, 2009 (FinancialWire) -- On Track Innovations Ltd. (NASDAQ: OTIV), a leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced that Yapi Kredi of Turkey has placed an additional order to expand its MasterCard PayPass contactless payment program.
This brings the total number of readers to be delivered to Yapi Kredi this year to 2,500 of OTI's Saturn 6000 contactless readers. Yapi Kredi is Turkey's first privately-owned bank with a nationwide presence and the fourth largest private bank.
OTI's Saturn 6000 reader is stylishly designed, available in multiple colors with a large LCD display, allows for configurable images, and programmable lines of characters in multiple languages. Its plug-and-play design and small footprint allows for easy installation and multiple configurations -- the reader can be placed on a countertop, be wall-mounted or lie flat. The Saturn 6000 reader supports major financial contactless programs including ISO 14443 Payment Implementation (EMVCo), MasterCard PayPass Mag Stripe and M/Chip, Visa PayWave MSD and qVSDC, American Express ExpressPay, Discover Zip, MIFARE, NFC and other proprietary systems.
Oded Bashan, chairman and CEO of OTI, commented: "OTI is the provider of contactless payment solutions in Turkey. We are proud to provide support to Turkey's innovative banking industry with OTI's contactless key fobs, cards, readers, smart stickers and additional innovative products."
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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(c) 2009 M2 COMMUNICATIONS
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