Topic “NFC Patents”

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.

Profits Remain Elusive for Contactless Reader and NFC Tech Supplier OTI

NFC Times Exclusive Insight – Israel-based On Track Innovations reported continued negative adjusted EBITDA and didn’t announce any new major reader sales during a recent conference call to discuss the company’s first quarter earnings. Despite a recent patent case win, investors appear to be getting impatient.

UPDATED: OTI Gets Favorable Ruling in NFC Patent Infringement Case; Reports Continued Losses for 2014

Mar 31 2015

NFC Times Exclusive Insight – A U.S. district court judge has ruled that T-Mobile USA infringed an NFC patent held by Israel-based On Track Innovations.

LG Licenses NFC Patents from Inside Despite NXP Suit Calling Patents Invalid

Aug 19 2014

LG Electronics has signed a global licensing deal for NFC technology patents from Inside Secure, an initial win for Inside and its strategy to try to cash in on its NFC IP.

Inside Sees First-Half Revenue Fall, but Says Strategic Shift on Track

Aug 5 2014

France-based Inside Secure reported a 9% drop in revenue in the first half, which it blamed on the end of shipments of NFC chips to BlackBerry and lower sales of “legacy” EMV chips to Europe.

Intel Buys Inside Secure’s NFC Modem Technology; Expands License of Inside's NFC Patents

Apr 2 2014

Inside Secure is selling its next generation NFC controller technology to chip maker Intel, as well as an expanded license, for $19.2 million, though will keep most of its NFC patents and embedded chip technology.

OTI Cuts Losses in First Half; New Directors Buy Shares

NFC and contactless vendor On Track Innovations announced reduced losses in the second quarter and first half, along with share purchases by its directors; while a court ruling allows the company’s patent suit against T-Mobile USA to proceed.

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.

HEADLINE NEWS

Cubic Expands Agreement with Moovit, Seeking to Drive More Use of Mobile Apps by Transit Agencies

NFC TIMES Exclusive Insight – U.S.-based Cubic Transportation Systems and Israel-based trip planning app provider Moovit, now owned by Intel, have expanded their partnership to develop mobile services for transit agencies, seeking to enable transit customers to “look, book and pay” for multimodal journeys.

Brussels Latest European Capital to Launch Open-Loop Fare Payments

NFC TIMES Exclusive Insight – Major Brussels transit operator STIB-MIVB plans to begin accepting contactless EMV credit and debit cards and NFC wallets on Wednesday, the latest European capital to launch open-loop payments following the success of the technology as demonstrated in London.

In-Depth: Boston Transit Agency Seeks to Put Massive Fare-Collection Project Back on Track

NFC TIMES Exclusive Insight – The massive new fare-collection system planned by Boston’s Massachusetts Bay Transportation Authority, or MBTA, which will include open-loop contactless payments and an expanded closed-loop program, has had trouble getting off the ground. Late last week, the transit agency finalized its “reset” of the project, agreeing to increase the contract by nearly 30% to just over $935 million and to add two more years to the rollout schedule–all in hopes of getting the project back on track.

With E-Commerce Skyrocketing, Tokenized Transactions Expected to Soar, as Well

NFC TIMES Exclusive Insight – As more consumers buy online, and to a lesser extent use mobile wallets for in-store purchases, because of the coronavirus pandemic, tokenized card transactions are expected to increase dramatically.  

Software-as-Service Platforms for Transit Agencies Begin to Support Open-Loop Payments

NFC TIMES Exclusive Insight – In what is believed to be a first, a transit agency in Europe plans to accept contactless credit and debit cards using a third-party software-as-a-service platform this summer, UK-based platform provider Masabi told NFC Times, although the company declined to name the agency. The project is expected to begin as a pilot.

Apple Launches Overdue Octopus Payments Service in Hong Kong, as It Continues to Seek More Transit Applications for Wallet

NFC TIMES Exclusive Insight – Apple today finally launched its Octopus transit payments service in Hong Kong on Apple Pay, nearly a year after the service was originally announced and more than two years after rival Samsung introduced a similar service in the market.

Mastercard: Contactless Payments in Europe Approach 80% of Card Transactions; Pandemic Causes More Consumers to Shun Cash

NFC TIMES Exclusive Insight – While contactless payments in Europe were already commonplace and continue to grow, the Covid-19 pandemic has created even more interest in the technology among consumers, according to a report released Thursday by Mastercard. The report includes a survey showing that consumers in eight major European markets say they use NFC-enabled smartphones and wearables for a combined 32% of all contactless transactions, a spokeswoman confirmed to NFC Times.

UPDATED: Ohio-Based Transit Agency Group Planning to Enable Mobile Ticketing Through Uber App

Jun 3 2020

NFC TIMES Exclusive – A consortium of 13 small and mid-tier transit agencies in Ohio and Northern Kentucky plans to enable customers to buy public transit tickets directly in the Uber app as early as this summer, following two other U.S. transit agencies, in Denver and Las Vegas, which have already integrated with Uber.

Samsung Details Planned Mobile-Money Service as It Seeks to Keep Pace with Rival Apple Pay

NFC TIMES Exclusive Insight – Samsung offered more details today about its Samsung Money debit card and “mobile-first” money management service for its Samsung Pay app, which it plans to launch in the U.S. this summer with personal finance fintech SoFi. Samsung had disclosed plans for the new service earlier this month.

Networks: Contactless Transactions Soar as Pandemic Takes Toll on Cash

NFC TIMES Exclusive Insight – In announcing their respective quarterly results this week, both Visa and Mastercard, as expected, discussed the major disruption that Covid-19 is wreaking on the payments business. But they also noted that there is one unexpected victim of the pandemic: cash.

Prompted by Pandemic Fears, Last of Australia’s Big Four Banks Ends Apple Pay Holdout

May 12 2020

NFC TIMES Exclusive Insight – Citing the increased demand for cashless payments because of the Covid-19 pandemic, Westpac today became the last of Australia’s big four banks to adopt Apple Pay, ending a four-year holdout that had lasted months, even years longer than its major rivals.

Insight: MaaS Backers Believe New Mobility Platforms Could Help Transit Providers Win Back Their Customers’ Trust

NFC TIMES Exclusive Insight – With Covid-19 lockdowns causing mass transit ridership in many cities to virtually fall off a cliff–with such cities as London, New York and San Francisco reporting drops of more than 90%–transport providers worry that some riders may not come back, even after the pandemic ends.