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April 28, 2014
08:37 EDTOTIVOTI PetroSmart awarded 15-year government ministry contract
OTI PetroSmart, a global Value Added Reseller of petroleum equipment products and a wholly owned subsidiary of On Track Innovations, has been awarded a major 15-year contract from a government ministry in Southern Africa for its EasyFuel Plus management system. OTI PetroSmart and its local operating partner will deploy the EasyFuel Plus ‘contactless’ solution to facilitate automated refueling at the ministry’s national network of more than 15 “home base” sites and a few thousand vehicles. The initial order is valued at $550K which will be recognized in 2014. Further expansion may be possible during the life span of the project. The scope of the project includes the supply of automatic tank gauging equipment, automatic vehicle identification, as well as various risk management systems.
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August 28, 2014
13:36 EDTOTIV Apple's new iPhone may offer NFC mobile payments, Wired says
Apple's (AAPL) new iPhone which is expected to debut on September 9 will feature NFC technology that will enable mobile payments, says Wired, citing unnamed sources. Apple is in a good position to enter the mobile payment space as the company has a multitude of credit cards on file from iTunes, added Wired. Note that On Track Innovations (OTIV) which designs, develops, and markets cashless payment solutions, is up 19% in afternoon trading after this report circulated. Reference Link
August 26, 2014
08:35 EDTOTIVOn Track Innovations awarded order for its Saturn NFC readers by U.S. partner
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August 18, 2014
08:41 EDTOTIVOTI PetroSmart awarded multiple local government tenders in South Africa
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