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: Two More Polish Banks Prepare to Launch HCE Payments

Nov 24 2016

NFC Times Exclusive – Two more Polish banks plan to launch mobile payments using host card emulation technology, NFC Times has learned, adding to a growing list of mobile payments services in Poland, which saw the launch of its first “Pays” service last week with the introduction of Android Pay.

Android Pay Launches in Contactless Hot Spot Poland, but Cards from Only One Major Bank Available to Start

NFC Times Exclusive Insight – Google has expanded its mobile payments service into a sixth market, Poland, targeting the country’s high penetration of contactless point-of-sale terminals. In-app payments will follow, according to the search giant.

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.

Citigroup Announces Citi Pay HCE App as Expected; Launch in U.S. Delayed until Early Next Year

NFC Times Exclusive Insight – As NFC Times reported a month ago, U.S.-based Citigroup is the latest bank with plans to launch an HCE-enabled mobile wallet for Android phones, “Citi Pay,” which will launch in Asia-Pacific first then in the U.S., using Masterpass technology.

Intesa Sanpaolo Expands HCE Mobile Payments Services to Five Countries

NFC Times Exclusive Insight – Intesa Sanpaolo, Italy's largest retail bank, launched its HCE-enabled mobile wallet service in a fifth market, Serbia, in October through its local subsidiary Banca Intesa Beograd and claimed a country first by deploying an HCE-based payments service branded as Wave2Pay.

Samsung Pay Launches Quietly in Canada with ‘Early-Access’ Service from One Major Bank, CIBC

NFC Times Exclusive Insight – One of Canada’s big five banks, CIBC, launched Samsung Pay this week, making its Visa-branded credit cards available as part of an “early-access” launch that Samsung itself hasn’t yet announced.

Samsung Discloses Plans for Samsung Pay Launch in Taiwan; Apple Pay Launch Expected on Island Nation Soon

Nov 9 2016

NFC Times Exclusive Insight – Samsung today disclosed plans in a local forum to launch Samsung Pay in Taiwan next year with several banks and a closed-loop payments service, iPASS, which could be used for transit fare collection. The launch is expected around the first quarter.

Samsung Seeks Global Reach for NFC Transit Ticketing But Must Overcome Tech Challenges, Lack of Standards

NFC Times Exclusive – Samsung has been considering introducing NFC transit ticketing in every market where it has launched Samsung Pay, including the U.S., an

Square Plans to Make Square Cash Available in Apple Pay Wallet to Enable Customers to Tap to Pay in Stores

NFC Times Exclusive – Payments company Square is preparing to make its Square Cash service available as a prepaid payment application for Apple Pay in the U.S., which would enable Square Cash money-transfer users to tap for purchases in stores, NFC Times has learned.

Visa Blocks Singaporean Bank UOB from Using Own TSP to Tokenize Visa Cards for Apple Pay

Nov 1 2016

NFC Times Exclusive – When United Overseas Bank in Singapore launched its mobile wallet app with host card emulation, UOB Mighty, in November of 2015, it was the first bank outside of the U.S. to use the Visa Token Service, Visa’s on-behalf-of tokenization service.

Google Chases Goal of Multichannel Mobile Payments with Both Checkout and Masterpass: How It Will Work

NFC Times Exclusive Insight – As global mobile wallet providers Google, Samsung and Microsoft race to deliver multichannel payments to stay on par with Apple, all three have chosen to add online payments to their mobile wallets by integrating with the digital platforms of one or both of the two largest U.S. payments networks, Visa and Mastercard.

Qualcomm Buys Largest NFC Chip Supplier; Tight Integration Expected to Continue with NXP’s NFC Technology

NFC Times Exclusive Insight – Seeking to expand its presence in such highly anticipated growth markets as the Internet of Things and intelligent cars, Qualcomm made good on earlier reported plans to buy Netherlands-based chip maker NXP Semiconductors, today announcing an all-cash deal worth $38.5 billion for NXP’s shares and total $47 billion including debt.