Topic “On Track Innovations”

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.

Banks Warm to Idea of Cardless ATM Transactions; NFC Could Play Leading Role

NFC Times Exclusive Insight – Cardless ATM transactions are little more than a novelty now, but momentum is building, with three major U.S. banks, JPMorgan Chase, Bank of America and Wells Fargo having announced or disclosed plans to enable customers to withdraw cash using their mobile phones. That may include support for such NFC mobile wallets as Apple Pay for at least some of the ATMs.

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.

USA Technologies: Nearly 300,000 Vending Machines Accept NFC; Apple Pay, Android Pay Drive Demand

NFC Times Exclusive Insight – U.S.-based unattended retail payments company USA Technologies had nearly 300,000 NFC-enabled cashless payment terminals connected to its network as of the end of the 2015 fiscal year and expects that to grow strongly next year, as mobile-payments services such as Android Pay roll out, the company said.

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.


Chinese Transit Ticketing in OEM Pay Wallet Shows Early Signs of Use; Hubs Required for Expansion

NFC Times Exclusive Insight –  About 60% of Chinese consumers who have activated transit cards in their Xiaomi Mi Pay wallet phones in Shenzhen and Shanghai have topped up value on the cards at least twice–an indicator of use–Charles Dachs, NXP Semiconductors’ NFC chief, told NFC Times, noting that there are more rollouts of NFC transit ticketing to come in OEM Pay wallets in China.

Like Domestic Debit Providers Elsewhere, Nets Gears Up to Support Expected Coming of 'Pays' Wallets to Nordics

NFC Times Exclusive Insight – As “Pays” mobile payments services, such as Apple Pay and Samsung Pay, continue to expand internationally, domestic debit networks and their payments technology providers want to be ready to enable banks to plug into the new wallets, if and when they launch.

Citigroup to Launch ‘Citi Pay’ Mobile Payments Service with Help from Mastercard

NFC Times Exclusive – U.S.-based Citigroup plans to soon launch its own NFC-based mobile payments service, Citi Pay, in the U.S. and Asia, in part using technology from Mastercard, NFC Times has learned.

Apple Pay Launch in Japan Opens Up More Opportunities for Third-Party Vendors

NFC Times Exclusive – As Apple moves closer to launching Apple Pay in Japan, the FeliCa-based service is opening up business opportunities for third-party technology suppliers, unlike most other countries where Apple Pay has launched.

Seamless Goes Ahead with HCE Expansion of SEQR Mobile Wallet for European Users

NFC Times Exclusive Insight – Following the initial soft launch of its NFC payments service in its home base, Sweden-based Seamless Distribution, the parent company of the SEQR wallet, is enabling HCE for all European users as it seeks global acceptance of its proprietary mobile payments service.

Apple Pay Expands to Russia with Support from Mastercard and Country’s Biggest Bank

Exclusive NFC Times Insight – Less than a week after Samsung switched on its mobile payments service in Russia, Apple has launched Apple Pay in the country, continuing the international expansion of its NFC payments service to a 10th market.

Reported Qualcomm Deal for NXP Not Expected to Limit NFC Chip Availability

Oct 4 2016

NFC Times Exclusive Insight –  If a planned acquisition by Qualcomm of NXP Semiconductors, as reported, were to go through, it would not affect supplies of NFC chips to smartphone makers using other processor chips, said an expert.

Samsung Pay to Launch in Russia with Support from Mastercard and Limited Number of Banks

Sep 30 2016

UPDATED: NFC Times Excusive Insight – Samsung Pay is expected to launch in Russia tomorrow, beating Apple to the market, which disclosed earlier this month that it plans a Russian launch of Apple Pay before the end of the year.

Two Major Taiwanese Telcos Plan to Adopt HCE, as They Deal with TSM Troubles and Imminent Arrival of OEM Pay

Sep 26 2016

NFC Times Exclusive –  In the first cases of its kind to come to light, two of Taiwan’s largest telcos are planning to support host card emulation in their wallets, as they seek to overcome problems with their joint TSM and to prepare for the coming of OEM Pay to Taiwan, expected in the first quarter of next year, NFC Times has learned.

Prepping for the Pays: Far EasTone Offers Range of Wallet Services It Believes Apple Can’t Match

NFC Times Exclusive – With the expected arrival of such OEM Pay services as Apple Pay and Samsung Pay as early as the first quarter of next year, Taiwan’s major telcos are gearing up to keep their own mobile wallets competitive.

Czech Banks See Opportunity for Deploying HCE Mobile Payments

NFC Times Exclusive – Czech banks are looking to capitalize on a growing contactless point-of-sale infrastructure in the country, with two of the five largest banks there having already launched HCE-based mobile payments and the others looking to join the market, NFC Times has learned.

OEM Pay Services Drive Renewed Interest in NFC Transit Ticketing, Especially in China

Sep 28 2016

NFC Times Exclusive – The planned launch of NFC transit ticketing in Japan next month with Apple Pay shined the spotlight on the emergence of closed-loop NFC transit ticketing–which has been seen as a prime application for NFC phones but one that has disappointed NFC backers for years.