oti Named Finalist for a 2014 PYMNTS Innovator Award
Global Leader in NFC Payment Solutions Among Five Companies Nominated for
‘Best Comeback Story’
ROSH PINA, Israel -- February 19, 2014
On Track Innovations Ltd. (oti) (NASDAQ:OTIV), a global provider of near field
communication (NFC) and cashless payment solutions, has been named a finalist
for the 2014 PYMNTS Innovator Award in the category of ‘Best Comeback Story.’
“We’re honored to be considered for this prestigious industry award and be
recognized for our company’s product development and enhancements over the
last year,” said Ofer Tziperman, CEO of oti. “2013 marked a pivotal year for
oti, with our new board of directors and executive team refocusing the company
on its core NFC-based payment technology that sets it apart from the
“As a result, we’ve enjoyed accelerating sales momentum, with the industry
adopting our technology as the 'de facto standard,'” continued Tziperman.
“With the global marketplace at a tipping point in the transition to cashless
payments, we will continue to leverage our patented technology and worldwide
presence to capitalize on this multi-billion dollar revolution.”
Winners of 2014 PYMNTS Innovator Award will be announced on March 20, 2014
during a live ceremony following the conclusion of The Innovation Project
2014, a two-day program hosted by PYMNTS.com that highlights the rapidly
changing payments and commerce ecosystem.
The Innovation Project 2014 will be held on March 19-20 at Annenberg Hall on
the campus of Harvard University, with the theme:“Rethink. Reset.
Reinvent.”The conference will address a variety of topics, including the
reinvention of retail, commerce, the consumer experience, security, digital
cash and global commerce.
Now in its third year, the PYMNTS Innovator Awards have garnered an
exponential increase in industry participants. According to Karen Webster,
president of PYMNTS.com: “The PYMNTS Innovator Awards are one of the most
inspiring aspects of The Innovation Project. It puts innovation front and
center and serves as a very visible reminder of the creative spirit and energy
that will drive our massively dynamic payments and commerce ecosystem
This year’s PYMNTS Innovator Award judges include:
Janet Estep, NACHA
David Evans, Global Economics Group
Matt Harris, Bain Capital Ventures
Karl Mehta, Menlo Ventures
Hans Morris, General Atlantic
Paul Purcell, Continental Advisors
Dan Rosen, Commerce Ventures
Karen Webster, Market Platform Dynamics and PYMNTS.com
Matt Witheiler, Flybridge Capital Partners
To vote in the competition click here. Voting will remain open through
Thursday, February 27 at 12 p.m. Eastern time.
For more information on oti and its NFC and cashless payment solutions, visit
PYMNTS.com is reinventing the way in which companies in payments share
relevant information about the initiatives that shape the future of commerce
and make news. This powerful B2B platform is the #1 site for the payments
industry by traffic and the premier source of information about “what’s next”
in payments. C-suite and VP level executives read it daily for these insights,
making the PYMNTS.com audience the most valuable in the industry. It provides
an interactive platform for companies to demonstrate thought leadership,
popularize products and, most importantly, capture the mindshare of global
decision-makers. It’s where the best minds and best content meet on the web.
While being held on the campus of Harvard University, the Innovation Project
and PYMNTS.com are not affiliated with Harvard University, nor is the
Innovation Project 2014 a Harvard University program or activity.
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.
This press release may contain forward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995 and other Federal securities laws. 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. For example, forward-looking
statements include statements regarding receipt of future consideration from
the sale of oti's SmartID Division, oti's long-term growth and profitability,
further penetration of the NFC markets and execution of oti's growth plans.
The forward-looking statements contained in this press release are subject to
other risks and uncertainties, including those discussed in the "Risk Factors"
section and elsewhere in oti's annual report on Form 20-F for the year ended
December 31, 2012 and in subsequent filings with the Securities and Exchange
Commission. 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.
Pam Bittner, 617-233-2064
Liolios Group, Inc.
Scott Liolios or Matt Glover, 949-574-3860
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