Topic “Oded Bashan”

OTI Lowers Losses as It Continues Turnaround Efforts but Offers No Time Frame for Turning a Profit

In the first full year since a takeover ousted former CEO and co-founder Oded Bashan, Israel-based NFC and contactless company On Track Innovations showed some progress in its efforts to turn around the chronically unprofitable company, in part by focusing on sales of contactless point-of-sale terminals.

OTI Announces $10 Million Contactless Reader Contract for North America

Israel-based NFC and contactless technology vendor On Track Innovations will ship 40,000 contactless payment readers to the U.S. by the end of 2013 as part of a $10 million, three-year contract.

People on the Move: Charrat Departs Inside; Bashan Makes Final Exit from OTI

Inside Secure co-founder Bruno Charrat, who helped guide the NFC and contactless chip vendor’s technology roadmap for more than 17 years, has left the company.

OTI reports Lower Revenue, Higher Losses for 2012

Israel-based contactless and NFC vendor On Track Innovations today reported revenue fell by 22% in 2012 to US$40 million, and losses widened to $17.4 million for the year.

OTI Names New CEO as Company Seeks to Reverse Falling Share Price

The board of Israel-based On Track Innovations has named a new CEO to lead the struggling contactless and NFC vendor, following the ouster in December of company co-founder Oded Bashan from the post.

OTI Chairman Resigns as Shareholders Group Prepares to Take Control

Dec 30 2012

Facing growing pressure from a dissident shareholders group, Oded Bashan has submitted his resignation as chairman of Israel-based contactless and NFC vendor On Track Innovations, a company he co-founded 22 years ago.

Two Board Members Resign as OTI Agrees to Special Shareholders Meeting in Proxy Fight

Nov 26 2012

Two members of the board of Israel-based On Track Innovations have resigned, following pressure from dissident shareholders seeking to capture control of the board of the financially struggling contactless and NFC supplier.

OTI Faces Takeover Attempt by Dissident Shareholders

The second-largest shareholder of Israel-based contactless and NFC vendor On Track Innovations is keeping up the pressure as he and his allies wage a battle for control of the company against its board and co-founder, Oded Bashan.

HEADLINE NEWS

Android Pay Launches in Australia with ANZ but Not Yet with Westpac or Other Big Four Banks

NFC Times Exclusive Insight – Google has launched Android Pay in its fourth country, Australia, with one of the country’s big four banks, ANZ, but the launch was beset by delays that have kept another of the big four, Westpac, on the sidelines for now.

Analysis: Apple Sees Familiar Pattern with Apple Pay Launch in Switzerland

NFC Times Exclusive – Apple’s expansion into Switzerland late last week with its Apple Pay service followed a familiar pattern, as in many of the other new markets the tech giant has expanded its payments service in: support first comes from relatively small issuers while major banks hold out.

As Apple Pay Launch Looms, French Telcos Continue to Push SIM-Based NFC with TSM Hub

NFC Times Exclusive Insight – With the launch of Apple Pay imminent in France, telcos there are continuing to push SIM-based NFC technology, hiring a trusted service manager for their new NFC SIM “hub”–although No. 1 telco Orange will also support Apple Pay.

Taiwanese Telco Joint Venture Steers Course Away from TSM; JV President Blames Vendor Safran

Jul 11 2016

NFC Times Exclusive – Alliance Digital Technology Co., the joint venture of five Taiwanese mobile operators and transit fare-collection operator EasyCard Corp., is steering away from the TSM business, which was the reason it formed three years ago, NFC Times has learned. It will add a focus on providing mobile ID and authentication, the JV told NFC Times.

French Domestic Network to Provide Tokenization for ‘Pays’ Service; Seeks to Take on Visa and MasterCard

Jul 19 2016

NFC Times Exclusive – French banks and their bank-owned domestic payments network STET plan to launch mobile payments in the first quarter of next year with a “large smartphone vendor” using the domestic payment network’s own token service provider, STET told NFC Times.

Samsung Deal with Alipay in China Angered UnionPay; Device Maker Gears Up to Enable Transit Ticketing

NFC Times Exclusive – SHANGHAI, China: While Apple has signed up more banks and is believed to have more cards registered in China for its Apple Pay service–around 10 million, according to a source–Samsung is seeking to outflank its rival with more acceptance points and more applications for Samsung Pay, NFC Times has learned.

Analysis: Microsoft Considers NFC Wallet App a Must-Have for Flagging Smartphone Business

NFC Times Exclusive Insight – Microsoft, which has written off more than $8 billion from its failed Nokia acquisition and which is expected to fully pull the plug on its consumer smartphone hardware business, nonetheless believes a viable wallet app is a must-have to keep its Windows 10 operating system for phones viable–although its announcement this week of Microsoft Wallet is surrounded by unknowns, including exactly when the service will generally launch.

Reality Check: MasterCard Misses Big on Goal to Bring International NFC Acceptance to Japan

NFC Times Exclusive – Three years ago, in June of 2013, MasterCard announced it would “deploy a target” of 410,000 MasterCard PayPass-enabled point-of-sale terminals, to be rolled out “throughout Japan over the next three years.”

Samsung Pay Launches in Australia but without Support Yet from Big Four Banks

NFC Times Exclusive Insight - Samsung launched Samsung Pay in its fifth country, Australia, on Wednesday, but like Apple, Samsung has had to make do without the country's largest card issuers to begin with.

Apple to Launch Payments on Web; Pursues Divide-and-Conquer Strategy for Signing Up Banks

NFC Times Exclusive Insight – Apple, as expected, will bring its payments service to e-commerce purchases and to three new marketsFrance, Switzerland and Hong Kongthe tech giant announced during its Worldwide Developers Conference Monday.

Samsung Pay Launches in Spain and Australia Won't Support MST for Bank Payment, but Singapore Will

Jun 15 2016

UPDATED: NFC Times Exclusive Insight – Following the launch of Samsung Pay in South Korea, the U.S., and China, Samsung’s launches of its mobile payments service in two new markets, Spain and Australia, both contactless and EMV payments hot spots, will not support the device maker's proprietary Magnetic Secure Transmission technology, which is designed to make nearly all mag-stripe POS terminals potential acceptance points, NFC Times has learned. But in Singapore, Samsung Pay is expected to support MST technology.

Seamless Turns to HCE and Proxy-Card Architecture to Boost Its Acceptance Network Worldwide

NFC Times Exclusive – Sweden-based Seamless Distribution told NFC Times it will use a proxy-card architecture, along with host card emulation, to enable NFC payments from its SEQR mobile wallet, a move the company hopes will help it greatly expand the acceptance network for its wallet.