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OTI Completes New Cryptocurrency Payment Solution For Vending Machines And Micropayment Market

ROSH PINNA, Israel -- On Track Innovations Ltd. has launched what it believes to be the only cryptocurrency payment solution for vending machines and the micropayment market. The OTI system allows the use of cryptocurrency standard mobile wallets. The Israeli company said the solution is an easy-to-use, fully secure method for micropayments, and "tackles the significant challenges of CC in automated machines and micro-payments." The new payment solution reportedly provides high-speed, low-fee transaction...

March 26, 2018

ROSH PINNA, Israel -- On Track Innovations Ltd. has launched what it believes to be the only cryptocurrency payment solution for vending machines and the micropayment market.

The OTI system allows the use of cryptocurrency standard mobile wallets. The Israeli company said the solution is an easy-to-use, fully secure method for micropayments, and "tackles the significant challenges of CC in automated machines and micro-payments."

The new payment solution reportedly provides high-speed, low-fee transactions, and solves global currency-exchange issues that may arise from using cryptocurrency as a form of payment.

"As a leader in cashless payment solutions over the past 28 years with a large installed base of technology solutions across the globe, introducing the ability to pay with cryptocurrencies seemed like a natural fit for our products, while also providing our customers and consumers with even more payment options," said OTI chief executive Shlomi Cohen. "We've always prided ourselves as being a company that is large enough to service some of the world's largest companies, yet nimble and flexible enough to rapidly adopt new technologies, such as cryptocurrencies. To our knowledge, there is no other solution on the market today."

Below is a brief video that explains the cryptocurrency payment solution and provides an example of its use on a vending machine.