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 applications, announced that Yapi Kredi of Turkey has placed an additional order to expand its MasterCard PayPass contactless payment program.
This brings the total number of readers to be delivered to Yapi Kredi this year to 2,500 of OTIs Saturn 6000 contactless readers. Yapi Kredi is Turkeys first privately-owned bank with a nationwide presence and the fourth largest private bank.
OTIs Saturn 6000 reader is stylishly designed, available in multiple colors with a large LCD display, allows for configurable images, and programmable lines of characters in multiple languages. Its plug-and-play design and small footprint allows for easy installation and multiple configurations the reader can be placed on a countertop, be wall-mounted or lie flat. The Saturn 6000 reader supports major financial contactless programs including ISO 14443 Payment Implementation (EMVCo), MasterCard PayPass Mag Stripe and M/Chip, Visa PayWave MSD and qVSDC, American Express ExpressPay, Discover Zip, MIFARE, NFC and other proprietary systems.
Oded Bashan, chairman and CEO of OTI, commented: OTI is the provider of contactless payment solutions in Turkey. We are proud to provide support to Turkeys innovative banking industry with OTIs contactless key fobs, cards, readers, smart stickers and additional innovative products.
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