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.

The companies last week agreed to enter into discussions to possibly settle their respective lawsuits, both filed last March. USA Technologies is suing OTI for $4.9 million in damages, while OTI is seeking $2.5 million in a counter-suit. A settlement conference is set for Sept. 15. 

OTI’s CEO Shlomi Cohen, speaking to financial analysts today following release of the company’s second quarter earnings, declined to comment on the legal dispute or possible settlement of the lawsuits. 

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