Topic “On Track Innovations”

Long-Struggling OTI Makes Progress Toward Achieving Profitability; Still Refuses to Give Guidance

NFC Times Exclusive Insight – After years of effort, Israel-based contactless reader and NFC vendor On Track Innovations achieved a rare quarterly operating profit from continuing operations, thanks to cost cutting and a high gross margin, helped by a onetime licensing fee. But it still showed a net loss and the cost reductions may have bottomed out.

OTI Continues to Cut Costs and Position Itself for Growth, but Won’t Project When It Will Finally Turn Profit

NFC Times Exclusive Insight – Contactless reader and NFC vendor On Track Innovations reported lower expenses and says it has positioned itself to earn more revenue from services in addition to its reader sales and possible NFC patent income–all in hopes of making the company profitable for the first time in its history. The question of when that will happen remains unanswered, however, and OTI doesn’t provide guidance.

OTI Takes Steps to Reach Profitability, But Remains Mum on Guidance

NFC Times Exclusive Insight – On Track Innovations CEO Shlomi Cohen sought to reassure investors that the company he took over nine months ago is more competitive and is moving toward profitability, though he declines to predict when it will turn its first yearly profit since its founding in 1990.

OTI Cuts Costs, Reports New Orders, but Road to Profitability Remains Long

NFC Times Exclusive Insight – Six months after taking the helm of Israel-based On Track Innovations, CEO Shlomi Cohen is seeking to convince investors he can turn around the contactless reader and NFC vendor, which has been struggling despite greater global demand for the company’s main product, contactless readers.

Analysis: OTI Attempts Seeks to Enable Payments on Wearables

Mar 24 2016

NFC Times Exclusive Insight – Israel-based contactless reader and NFC vendor On Track Innovations is hoping a planned move to enable the provisioning of payment applications onto wearable devices, will generate recurring revenue and help bolster its finances.

Banks Warm to Idea of Cardless ATM Transactions; NFC Could Play Leading Role

NFC Times Exclusive Insight – Cardless ATM transactions are little more than a novelty now, but momentum is building, with three major U.S. banks, JPMorgan Chase, Bank of America and Wells Fargo having announced or disclosed plans to enable customers to withdraw cash using their mobile phones. That may include support for such NFC mobile wallets as Apple Pay for at least some of the ATMs.

OTI Announces Partnership to Supply Readers, Though Share Price Trades Near Historic Lows

Jan 26 2016

NFC Times Exclusive Insight – Israel-based On Track Innovations has announced a partnership with an undisclosed global provider of magnetic card readers whose products are used in financial self-service terminals, such as ATMs, but the deal has not yet had a substantial impact on OTI's share price, which is trading near historic lows.

OTI Share Price Falls After Disappointing Q3 Earnings Report

NFC Times Exclusive Insight – Three months after new CEO Shlomi Cohen took the reins, Israel-based NFC and contactless vendor On Track Innovations reported a 31% sequential drop in revenue and a continued slump in contactless point-of-sale reader sales for the third quarter.

OTI Files New NFC Patent Suits, Targeting AT&T and Verizon

NFC Times Exclusive Insight – NFC and contactless vendor On Track Innovations has filed new patent infringement lawsuits against U.S. telcos AT&T and Verizon Wireless, less than a week after announcing a settlement with T-Mobile USA in a patent infringement suit it filed in 2012.

USA Technologies: Nearly 300,000 Vending Machines Accept NFC; Apple Pay, Android Pay Drive Demand

NFC Times Exclusive Insight – U.S.-based unattended retail payments company USA Technologies had nearly 300,000 NFC-enabled cashless payment terminals connected to its network as of the end of the 2015 fiscal year and expects that to grow strongly next year, as mobile-payments services such as Android Pay roll out, the company said.

HEADLINE NEWS

Analysis: Why Rollouts of Payments Wearables Have Gotten Off to Slow Start

NFC TIMES Exclusive – The rollout of payments wearables is hitting a snag, with commercial and technical challenges holding back plans by industry players to enable consumers to buy wristbands, analog watches, rings and other wearables and then load them with their favorite debit and credit cards. (See table, challenge sections, below.)

Case Study: Czech Bank ČSOB Describes First-Mover HCE Launch; Questions Whether Visa and Mastercard are ‘Partners or Competitors’

NFC TIMES Exclusive – ČSOB, the Czech Republic’s No. 2 bank, faced challenges in launching the country’s first HCE-based wallet last year.

Analysis: Trends to Watch This Year in Tokenization, HCE, ‘Pays’ Wallets, Wearables and More

NFC Times Exclusive – The coming year will see the major networks continuing to dominate tokenization, even though at least a few more domestic payments schemes will begin tokenizing cards.

Major Taiwanese Banks Prepare for Launch of Apple Pay

NFC Times Exclusive –  At least six of Taiwan’s largest card issuers are lined up to participate in Apple Pay when it launches on the island nation, expected before the end of the first quarter, NFC Times has learned.

Analysis: STMicroelectronics Seeks to Stay Competitive in Payments Wearables Market with Provisioning Partnership

Jan 14 2017

NFC Times Exclusive Insight Chip maker STMicroelectronics has been gearing up to make a play for the payments wearables market, an initiative punctuated by its announcement last week that it is working with Germany-based Giesecke & Devrient and payments wearables technology start-up FitPay to streamline provisioning of card credentials on its embedded chips.

Deutsche Telekom Casts Doubt on Future of NFC SIMs, as It Quietly Closes Wallet in Germany

NFC Times Exclusive Insight – Deutsche Telekom, one of the most important backers of SIM-based NFC through the years, now questions whether the technology could ever become a standard, as it quietly withdrew its little-used SIM-based NFC mobile wallet from the German market last week after more than two years.

Top 10 Misses: Wallet Take-Up, Bank Recruitment, Payments Wearables Rollouts Led List of Disappointments in Past Year

Jan 5 2017

NFC Times Exclusive – The rollout of digital payments, including services using NFC technology, are undoubtedly making progress, especially compared with just a few years ago.

More Chinese Smartphone Makers Enable NFC Transit Ticketing

NFC Times Exclusive – More Chinese OEMs have launched support for NFC transit ticketing, following earlier launches by Xiaomi and Huawei, NFC Times has learned, with at least five more device makers enabling service in one to two Chinese cities, or planning to do so.

Moscow Commuter Line Supports Open-Loop Fare Collection; Promotes Payments by Apple Pay

NFC Times Exclusive Insight - All stations on Moscow’s new commuter rail line, the Moscow Central Circle, or MCC, and some Moscow Metro stations linked with the new line, accept open-loop payments, including with Apple Pay, the Russian transit authority confirmed to NFC Times, adding that the authority is looking forward to accepting a range of other NFC-enabled wallets, including Samsung Pay.

Samsung Takes Two-Speed Approach to Launches of Samsung Pay

NFC Times Exclusive – In line with its October promise, Samsung has launched its mobile payments service in two additional markets, Malaysia and Thailand, bringing the number of markets to 12, counting Puerto Rico. Still, in some of the markets where Samsung Pay has launched, the device maker adopted a different rollout strategy, which it calls “early access.”

Huawei Enables More Cities for Transit Ticketing, as OEM Pay Providers Begin to Expand NFC Fare Collection Services

Dec 22 2016

NFC Times Exclusive Insight – Huawei and NXP Semiconductors have announced that the Chinese smartphone maker has added three cities to its transit-ticketing service from its Huawei Pay wallet, as Chinese OEMs continue to lead in enabling NFC fare collection from their devices.

NFC Secure Element Shipments to Miss Vendor Forecasts; Trade Group Eurosmart Declines to Release Details

NFC Times Exclusive – NFC secure element shipments for 2016 will be lower than earlier forecasts by card and chip vendor trade association Eurosmart, although the group is not saying by how much.