OTI Europa ASEC has Delivered 1000 OTIMetry Cashless Payment Solution Kits to Polish Vending Giant AUTOMAT-SPEC

ROSH PINNA, Israel, Feb. 5^th, 2018 /PRNewswire/ -- On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, announces today together with Polskie ePłatności, the successful delivery of 1000 TRIO and Telebox solutions kits to AUTOMAT-SPEC, one of the largest vending operators in Poland. The self-service payment solutions will be integrated into Automat-Spec's vending machines. AUTOMAT-SPEC with over eighteen successful years' experience, is a unique, innovative operator in the Polish market. OTI Europa combines forces with Polskie ePłatności - one of the leading suppliers of payment solutions in Poland.

"We are very pleased with the developing cooperation between Automat-Spec, Polskie ePłatnośći and OTI Europa," said Agnieszka Światły, CEO & GM, OTI Europa ASEC. "a joint strategic strengthening of business activities on the "Vending" and "Contactless" markets prove we are at the forefront, not only in Poland but also with prospects of development in neighboring countries. I am sure that our partnership with AUTOMAT-SPEC will continually develop in the European vending market, and with both our combined innovative technologies, I see an optimistic future with our significant partners."

About OTI

On Track Innovations (OTI) is a global leader in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address cashless payment,  automated retail, and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel. For more information, visit www.otiglobal.com.

Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Whenever we use words such as "believe," "expect," "plan," "estimate," "will," "may," "prospect," "future" or similar expressions, we are making forward-looking statements. For example, we are using forward-looking statements when we discuss our expectations regarding our growth or profitability, expected divestitures, plans for our existing and new products and services, penetration of new markets and securing new customers, contributions of our regions to our growth, strengthening of our balance sheet and deliver long-term shareholder value. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. Forward-looking statements could be impacted by the effects of the protracted evaluation and validation periods in the U.S. and other markets for contactless payment cards, or new and existing products and our ability to execute production on orders, as well as other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2016, and in subsequent filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements.

OTI Press Contact: 
Richard Harris  
Marketing Manager   
[email protected]
+972-4-686-8004

SOURCE On Track Innovations Ltd (OTI)