OTI reader certified for Amex ExpressPay
02 December, 2004
category: Contactless, Financial
Add American Express’ ExpressPay contactless payment scheme to the list of those accepted by OTI’s Saturn 5000 readers. The Amex certification follows prior certifications from MasterCard PayPass and SST’s PowerPay offerings.
OTI contactless reader solution receives certification to support ExpressPay from American Express
Saturn 5000 Has Already Received Approvals for MasterCard PayPass, PowerPay, Loyalty Programs
Fort Lee, NJ – December 2, 2004 – On Track Innovations Ltd, (OTI) (NASDAQ: OTIV; Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions, for homeland security, micropayments, petroleum payments and other applications, today announced that its Saturn 5000 contactless reader received certification from American Express (NYSE: AXP) to support its ExpressPay contactless payment program. This follows OTI’s recent announcement as the only company to date to obtain type approvals on both its MasterCard PayPass compatible card and reader solutions.
ExpressPay is an easy-to-use alternative to cash for making purchases at merchants where speed and convenience are important – such as quick serve restaurants, supermarkets, drug stores, gas stations, and corporate cafeterias. Users simply hold the ExpressPay key fob next to a companion reader at checkout to make purchases. Payment is authorized in seconds and no signature is required. ExpressPay links directly to an existing credit, charge or debit card to fund the purchase.
The Saturn 5000 is built to allow quick upgrades of existing POS terminals to accept contactless payments, with the reader facing the customer for easier payment experience. The Saturn 5000 can support multiple applications and is currently compatible with all major POS terminal providers. Supporting the major financial contactless programs, the software integrated in the Saturn 5000 can read a variety of sources including credit cards and key fobs. OTI also offers OEM solutions that can be integrated into payment terminals.
Oded Bashan, President and CEO of OTI, commented, “The American Express certification further validates OTI’s multi-solution approach and attests, overall, to OTI’s technological leadership and expertise in contactless solutions. The multi-approval status of our Saturn 5000 reader makes it even more attractive to merchants because of the small footprint or required counter space.”
About OTI
Established in 1990, OTI (NASDAQ: OTIV, Prime Standard: OT5) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, micropayments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the prestigious ESCAT Award for smart card innovation in both 1998 and 2000. Major clients include: MasterCard International, Atmel, BP, Scheidt & Bachmann, EDS, Repsol, and the Government of Israel. For more information on OTI, visit www.otiglobal.com.
