Topic “OTI”

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.

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.

UPDATED: Losses Continue in Second Quarter for OTI as New CEO Takes Reins

Aug 11 2015

NFC Times Exclusive Insight – The new CEO of Israel-based On Track Innovations, Shlomi Cohen, is starting his tenure with the announcement by the company of declining revenue and continuing losses for the second quarter of 2015.

OTI Names New CEO, as Two Key Board Members Resign and Share Price Struggles

NFC Times Exclusive Insight – Israel-based On Track Innovations is undergoing a major change of leadership after its board of directors named a new CEO yesterday and two major players on the board abruptly resigned.

HEADLINE NEWS

Exclusive: Visa Locks Out Third-Party Token Service Providers; Sets Dates for Ending Support for Alternate PANs

NFC TIMES Exclusive – Unlike at least some other major networks, including Mastercard, Visa has shown no intention of allowing third-party token service providers to tokenize Visa-branded cards, requiring nearly all issuers to use Visa’s own Visa Token Service, or VTS, sources told NFC Times.

Exclusive: What Tokenization Fees from Visa Might Look Like for Issuers

NFC TIMES Exclusive – While Visa has said it is waiving tokenization fees for issuers that join its commercial tokenization hub, VDEP, and use its Visa Token Service, some observers believe the network will charge the fees sooner or later.

Sony Launches Support for FeliCa Technology on HCE Devices, Though Few Handsets Available Yet

NFC TIMES Exclusive – Japan’s Sony Corp. is supporting host card emulation with its proprietary FeliCa contactless technology, which could enable service providers to avoid the need for secure elements in rolling out FeliCa-based applications on NFC phones.

Samsung Semiconductor Faces Challenges in Rolling Out Contactless-Payments Service for Wearables

NFC TIMES Exclusive Insight – Samsung Semiconductor believes there is room for yet another closed-loop payments service, one that enables consumers to pay with contactless wearables devices that carry its dual-interface chips.

Android Pay Launches in Belgium, While State-Owned Belfius Bank Takes Two-Staged Approach to Own HCE Rollout

NFC TIMES Exclusive – Two of the largest banks in Belgium have launched, or are planning to launch, HCE-based mobile payments but chose different approaches: BNP Paribas Fortis decided to first launch with Android Pay, while state-owned Belfius Bank plans to enable the service within its mobile-banking app.

Serbia's KomBank Seeks to Increase Mobile Banking Users with HCE Service

NFC TIMES Exclusive – Komercijalna banka Beograd, known as KomBank, one of Serbia’s largest banks, incorporated a host-card-emulation-based mobile payment service into its mobile banking app to increase awareness and use of the app, Slobodan Lukić, the bank's deputy director of the payment cards division told NFC Times.

Apple Pay Launches in Ireland and Gears Up in Italy; but Only One Major Bank On Board So Far in Each Country

NFC Times Exclusive Insight – Apple has expanded its mobile payments service to another small market, with its launch Tuesday in Ireland, but is preparing to launch in a much larger market, Italy.

Taiwan’s Largest Transit Ticketing Service Plans Bluetooth-Enabled Mobile Ticketing, Though Needs Regulatory Approval

NFC TIMES Exclusive – Taiwan’s EasyCard Corp., the operator of the country’s largest closed-loop transit and retail payments service, is working with a provider of Bluetooth-enabled mobile payments technology to offer customers an NFC-like experience to pay for rides and purchases in stores.

Australian Domestic Debit Network Nears Launch of Token Service Provider to Compete with Visa and Mastercard

NFC TIMES Exclusive – Australia’s largest domestic debit network, eftpos, plans to launch its overdue tokenization service commercially by the second quarter, likely serving at least one of the country’s big four banks for its HCE mobile wallet and one or more of the “Pays” wallets, such as Android Pay and possibly Apple Pay, NFC Times has learned.

Certification Issues and Legal Battle Delay Launch of Kerv Ring; Wearables Maker Says Ring Ready

NFC TIMES Exclusive – After two years addressing design, certification and legal issues, UK-based start-up Kerv Wearables says it’s finally ready to launch its NFC-enabled ring.

Exclusive: Why are Some of the Largest U.S. Merchants Balking at Supporting NFC?

NFC TIMES Exclusive – While the base of contactless point-of-sale terminals in the U.S. has grown substantially over the past two and a half years, some of the country’s largest merchants continue to resist the idea of accepting such NFC wallets as Apple Pay and Android Pay.

Exclusive: Taiwanese Banks to Pay Apple Cut of Transaction Fees on Par with U.S.

NFC TIMES Exclusive – TAIPEI, Taiwan: Apple will collect a cut of transaction fees from Taiwanese banks on credit card transactions that is around the same level as the tech giant takes from U.S. credit card issuers, when Apple Pay launches in Taiwan, expected later this month, NFC Times has learned.