On Track Innovations Deploys Pilot Installations of its SATURN 6700 NFC Readers

Back in January of this year, oti secured a lucrative partnership with one of the leading providers of magnetic card readers used in financial self-service terminals globally to equip the partner’s terminals with oti’s NFC readers.

After the first wave of pilot deployments during the second fiscal quarter of 2016, the partners have resolved to actively market the retrofitted NFC solution to the magnetic card reader provider’s existing global customer base, targeting over 200,000 self-service terminals.

The partners involved anticipate the total addressable market for oti’s reader to be more than three million terminals around the world.

“Our innovative NFC technology allows major financial institutions to benefit from the power and growing consumer adoption of NFC to not only enhance the customer experience, but also significantly improve security and lower operating costs,” said oti CEO Shlomi Cohen. “We look forward to further collaborating with our strategic partner to retrofit their installed base of self-service terminals, which represents a majority of our overall total addressable market.”