December 1, 2009 (FinancialWire) On Track Innovations Ltd. (NASDAQ: OTIV), a leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments, eID Systems and other applications, has signed a contract for the supply, transfer, maintenance and operation of an electronic identification related product based on OTIs Magna platform.
OTI has teamed up with a reputable system integrator that will be responsible for project management and local operation in the country. The contract provides for an initial three-year period and minimum guaranteed amount of $17 million, starting in 2010. The project is funded based on a Build-Operate-Transfer model.
As part of the contract, OTI will supply its end-to-end solution, based on its proprietary state-of-the-art ID Registry Magna platform. OTIs system, which will be deployed nationwide, provides advanced software for ID management, bundled with secure biometric contactless cards. OTI will also provide mobile enrollment stations, and will incorporate a biometric Automatic Fingerprint Identification System .
OTIs solution supports both online and offline communication, thereby allowing every citizen, from cities to rural areas to register, regardless of the areas communication infrastructure. The solution is designed to provide maximum accuracy and security while being user friendly.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
Yapi Kredi of Turkey Selects OTIs Contactless Reader to Expand Its Contactless Payments Program November 27, 2009 (FinancialWire) On Track Innovations Ltd. (NASDAQ: OTIV), a leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other... |
OTIs Smart ID Product Powers Israels Airport UniPass Program January 13, 2010, 2010 (FinancialWire) On Track Innovations Ltd. (NASDAQ: OTIV), a leader in contactless microprocessor-based smart card solutions for homeland security & eID systems, payments, petroleum... |
Barclaycard Announces 100 EAT Stores Across The UK To Go Contactless Barclaycard has announced that 100 EAT stores are to now accept contactless payments, joining over 9000 other retail outlets in the UKNORTHAMPTON, ENGLAND, November 01, 2009 /24-7PressRelease/ -- Barclaycard... |
Apriva Awarded $17 Million, 5-Year Gateway Contract from DISA Apriva®, the leader in high-security wireless solutions for the Electronic Payments and Mobile Messaging markets, announced today that the Defense Information Systems Agency (DISA) has awarded Apriva... |
In Focus: Chinas Foreign Ministry Chooses OTI And HuaDa-ZhiBao For Passport Equipment October 29, 2009 (FinancialWire) On Track Innovationss (NASDAQ: OTIV) Chinese partner HuaDa-ZhiBao Electronic Systems Ltd received a notice of award for the supply of Optical Character Recognition units... |
PAR Technology Subsidiary Announces $23.2 Million U.S. Army Contract Award Rome Research Corporation (RRC), a subsidiary of PAR Technology Corporation (NYSE: PTC), received an award from the U.S. Army for a contract valued at $23.2 million to provide SATCOM Operations & Maintenance... |
