Topic “OTI”

Vendor Hopes to ‘Flip’ Bitcoin Holders into Users of Cryptocurrency for Retail Purchases

NFC TIMES Exclusive Insight – While Bitcoin and other cryptocurrencies are mainly seen as assets for speculative investments these days rather than currencies for making payments, U.S.-based provisioning and mobile wallet platform company Fit Pay Thursday released a second announcement about its planned contactless device that would enable holders of Bitcoin to make purchases at brick-and-mortar stores.

Parties Could Settle Lawsuits Stemming from Dispute over Apple Value-Added Services Software

NFC TIMES Exclusive –  Software that enables consumers to tap to pay and earn or redeem rewards and other value-added services with Apple Pay is at the center of a legal dispute between Israel-based NFC and contactless reader vendor On Track Innovations and USA Technologies, a provider of payment technology for vending machines and other self-service retail locations.

Vendor Blames Certification Woes for Slow Rollout of Payments Wearables

NFC TIMES Exclusive – A costly and time-consuming payments wearables certification process is a major contributor to delays in payments wearables getting into the hands of more consumers, Israel-based On Track Innovations’ director of marketing and head of innovations Nir Barr told NFC Times.

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.

HEADLINE NEWS

Post-Lockdown, Transit Riders Want Agencies to Run Vehicles More Frequently, Provide Real-Time Arrival Information and Offer Contactless and Mobile Payments

NFC TIMES Exclusive Insight - Up to a third of transit riders in several cities say contactless payments and mobile ticketing would encourage them to return t

New York’s OMNY Project Completes Major Milestone, as Transit Officials Point to Steady Growth in Adoption

NFC TIMES Exclusive Insight – New York’s Metropolitan Transportation Authority says it is seeing steady growth in use of its OMNY open-loop fare payments system by customers–though overall open-loop payments remain small–as the agency continues its phased rollout of acceptance of contactless EMV bank cards and NFC Pays wallets. 

In-Depth: Trip-Planning Giant Moovit Begins to Enable Ticketing and Payments, as Rivals Make Similar Moves

NFC TIMES Exclusive Insight – Moovit, which bills itself as the world's largest “urban mobility app,” has begun to enable public transit ticketing and payments from its platform, as it seeks to deliver what it says is a true mobility-as-a-service experience for users.

Los Angeles Transit Authority Follows Through with Plans to Enable TAP Card for Apple Pay; Google Pay to Follow

NFC TIMES Exclusive Insight – Another major U.S. transit agency has introduced a virtual closed-loop card for Apple Pay this week, with the Los Angeles County Metropolitan Transportation Authority, or Metro, announcing the move Thursday. It comes a couple of days after the Washington (D.C.) Metropolitan Area Transit Authority, or WMATA, announced it had put its SmarTrip closed-loop card on Apple’s NFC-enabled devices, as well.

Apple Enables Virtual SmarTrip Fare Card for Apple Pay in Washington, D.C., with More Closed-Loop Transit Cards Expected This Year in U.S.

NFC TIMES Exclusive Insight – Apple added support for its latest closed-loop transit card for Apple Pay, enabling customers of the Washington Metropolitan Area Transit Authority, or WMATA, to tap their NFC-enabled iPhones and Apple Watches to pay for rides with WMATA’s SmarTrip virtual card.

Insight: Apple’s Long Game Pays Off, Conquering Resistance to Apple Pay from Banks in Europe and Beyond

NFC TIMES Exclusive Insight – It’s coming up on six years since Apple announced its groundbreaking digital-payments service, Apple Pay. And while consumer adoption remains a work in progress, Apple has had considerable success gaining participation from banks and other issuers in what is now more than 50 countries worldwide.

Transit Agency in Canada Plans to Launch Mobile Ticketing, Citing Covid Fears

NFC TIMES Exclusive Insight – Another transit agency in Canada has announced it will enable mobile ticketing, along with reloadable contactless cards, citing in part the Covid-19 pandemic and the desire to reduce the use of cash, vending machines and customer interaction with agency staff.

Biggest U.S. Supermarket Chain Trials Contactless as Covid-19 Fears Increase Demand for ‘No-Touch Payments’

NFC TIMES Exclusive Insight – The announcement by The Kroger Co., the largest supermarket chain in the U.S., that it has begun trialing contactless payments in a subsidiary indicates that one of the last major holdouts among big U.S. merchants will eventually accept such NFC payments services as Apple Pay and Google Pay, as well as contactless bank cards.

Southern California Transit Agency to Sell Tickets Via Google Maps and Google Pay; Others Expected to Follow

NFC TIMES Exclusive Insight – There’s more evidence that popular trip-planning apps Transit, Moovit and Google Maps are seeking to expand further into mobile ticketin

Insight: Apple Buys Mobile-POS Firm as It Seeks to Expand Acceptance of Contactless Payments

NFC TIMES Exclusive Insight – In a move seeking to expand the base of merchants that can accept its payments service, Apple Pay, Apple has reportedly acquired Montreal, Canada-based mobile POS company Mobeewave, which could enable small shop owners, restaurants and street vendors, among others, to more easily accept contactless EMV cards and NFC mobile wallets.

Exclusive: Google Tests Mobile Ticketing Initiated in Maps App; Could Lead to Mobility-as-a-Service Offer?

Jul 23 2020

NFC TIMES Exclusive – Three small public transit agencies in the U.S. are quietly testing use of Google Maps and Google Pay to enable customers to first plan then pay for tickets. It’s believed to be the first pilots of its kind for Google, a move that could mean the search giant plans to compete with such popular trip-planning apps as Transit and Moovit, which are starting to enable public transit ticketing and payments, NFC Times reports.

Los Angeles Transit Authority to Support Closed-Loop TAP Card in Both Apple Pay and Google Pay

Jul 17 2020

NFC TIMES Exclusive Insight – The Los Angeles County Metropolitan Transportation Authority, or Metro, plans to introduce an Android version of its TAP closed-loop fare card, with a virtual TAP card for the Google Pay wallet, a Metro spokesman confirmed to NFC Times.