OTI, Hypercom and Commtrain Deliver First Productive EMV Contactless Transaction in Europe |
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Hypercom Corp.
2851 W. Kathleen Rd.
Phoenix, AZ, 85053
USA
Press release date: April 10, 2007
FORT LEE, N.J. and PHOENIX, April 10 -- On Track Innovations Ltd, (OTI) (NASDAQ:OTIV), a global leader in contactless microprocessor-based smart card solutions, together with high security electronic transaction solutions provider Hypercom Corporation (NYSE:HYC), and Hypercom's Swiss partner, Commtrain Card Solutions AG, today announced that their contactless payments system performed what is considered the first EMV (JCB, MasterCard Worldwide and Visa International standard) contactless transaction in Europe, according to Swiss technology standards and rules.
The transaction was believed to be the fastest secured transaction to- date, taking less than 0.5 seconds. The market launch of contactless card payment technology in Switzerland is projected to commence this year, following pilots in Zurich, Lausanne and Lugano.
The transaction was initiated on March 29 by MasterCard® Europe and the Swiss Bank Aduno Group, in collaboration with McDonald's® restaurant, in Stadelhofen, Zurich. The transaction was conducted utilizing OTI's Saturn 6000 and Hypercom's T2100.
Oded Bashan, Chairman, President & CEO, OTI, commented: "We are honored to participate in the contactless EMV programs in Europe. Our participation in the first contactless EMV transaction together with Hypercom and Commtrain further validates the high level of security and superiority of our products utilizing the cutting edge patented technology of OTI, offering efficiency and convenience to global users."
"Utilizing a Hypercom Optimum terminal, the transactions are incredibly fast," said Michael Hartmann, CEO of Commtrain Card Solutions AG. "It was a great pleasure to observe the customer's reaction at the point of sale, the speed is amazing."
Kazem Aminaee, Senior Vice President & General Manager of Hypercom EMEA said: "Commtrain's integration of Hypercom and OTI's high security contactless payment products is a win-win for merchants and consumers who want the speed and security of faster check-out lines throughout Europe."
The Saturn 6000 supports contactless payments programs from other major financial institutions, including Visa(TM) contactless program, ExpressPay from American Express(TM) and Discover(TM) Zip as well as programs for mass transit ticketing, MIFARE, loyalty, third party applications, and more. OTI's Saturn 6000 is a stylishly designed reader, available in multiple colors and its large LCD display allows for dynamic graphic support, configurable images, and two lines of characters to be programmed in multiple languages. Its plug- and-play design and small footprint allow for easy installation and multiple configurations: The reader can be placed on the countertop, it can be wall- mounted or it can lie flat. The Saturn 6000 is an exceptionally fast reader with built in encryption capabilities developed to address the specific needs of the global contactless markets and the enhanced security required in EMV markets.
Hypercom's Optimum T2100 is a high-speed countertop terminal based on a 32-bit RISC processor with 12 megabytes of memory and dial communication to speed installation and ease migration. The innovative device features integrated EMV-compliant smart card reader, built-in printer, support for multiple languages and currencies, and hand-over design and graphical interface that guides cardholders through transactions with clear prompts.
About OTI
Established in 1990, OTI (NASDAQ:OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for petroleum payment systems, homeland security solutions, electronic passports and IDs, payments, mass transit ticketing, parking, loyalty programs and secure campuses. OTI has a global network of regional offices to market and support its products. The company was awarded the Frost & Sullivan 2005 and 2006 Company of the Year Award in the field of smart cards. For more information on OTI, visit www.otiglobal.com
About Hypercom
Global payment technology leader Hypercom Corporation delivers a full suite of high security, end-to-end electronic payment products and services. The company's solutions address the high security electronic transaction needs of banks and other financial institutions, processors, large scale retailers, smaller merchants, quick service restaurants, and users in the transportation, healthcare, prepaid, unattended and many other markets. Hypercom solutions enable businesses in more than 100 countries to securely expand their revenues and profits. For more information on Hypercom, visit www.hypercom.com
About Commtrain Card Solutions AG, Switzerland
Since 2002, Commtrain makes the point of sale more profitable for its customers by delivering terminal solutions and services which reduce costs and generate new revenues. As a specialist in electronic payment transactions, thousands of companies in Switzerland trust in our technology and customer support services. Together with our partners we adapt smoothly to the rapid evolution of technology while maintaining constant focus on the changing business needs of our clients. For more information on Commtrain, please visit our website at www.commtrain.ch
OTI Contact:
Galit Mendelson,
Director of Corporate Communications,
201 944 5200 ext. 111,
galit@otiglobal.com
Hypercom Contact:
Pete Schuddekopf,
Hypercom Corporation,
602.504.5383,
pschuddekopf@hypercom.com
Commtrain Contact:
Christian Baumberger,
Commtrain Card Solutions AG Contact,
+41 71 914 40 20,
christian.baumberger@commtrain.ch
Source: On Track Innovations Ltd.; Hypercom Corporation
Web site:
http://www.otiglobal.com/
http://www.commtrain.ch/
http://www.hypercom.com/
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