OTI’s Wholly Owned Subsidiary in Poland, ASEC, Wins Additional Award for Half a Million Multi-Application Contactless Cards from the City of Warsaw
Contactless Cards are Used for Public Transportation and Parking Solutions
Fort Lee, NJ, May 5, 2008–On Track Innovations Ltd (OTI) (NASDAQ GM: OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, today announced that its subsidiary, ASEC S.A. (“ASEC”) in Poland, will provide the Transport Department of the City of Warsaw with additional public transportation and street parking contactless e-tickets. This is an additional award, following deliveries of more than a million cards that have already been supplied as part of the program. The additional contract award deliveries are expected to be completed this year.
Warsaw residents use OTI’s contactless cards for bus, tram, and metro rides, as well as for street parking. ASEC also provided additional services and products for the project including: terminals with integrated contactless readers that enable card loading and perform sale transactions, as well as automated ticket vending machines and software for data gathering and sales monitoring.
Established in 1990, OTI (NASDAQ- GM: OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards.
For more information on OTI, visit http://www.otiglobal.com, the content of which is not part of this press release.
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