OTI Readies 10000 Cashless Payment Systems For Japanese Vending Market

ROSH PINNA, Israel -- NFC payments provider On Track Innovations Ltd. said a major Japanese vending company has agreed to purchase 10,000 systems over a period of three years. OTI chief executive Shlomi Cohen, citing Japan's estimated installed base of 6 million vending machines, described the order as "significant." Terms of the transaction and the identity of the purchaser were not disclosed.

The systems that OTI is shipping include the company's new Uno 8700 EMV and FeliCa contactless reader, and GoBox M2M gateway for unattended machines. OTI claims its Uno 8700 is the first contactless reader produced outside Japan to achieve dual EMV/FeliCa certification.

Cohen said OTI's vending telemetry solution is ideally suited for Japan because it enables cashless payments for local customers and allows international customers to use EMV credit cards.