OTI plans to deliver part of the NFC and contactless payment readers to its customer in 2012, and the rest in 2013.

With its SCI OEM integrated solution and the Saturn outdoor and indoor line of readers, OTI's NFC and contactless payment readers provide an easy, cost-effective plug-and-play solution for businesses across the globe. These lines of NFC and contactless payment readers support the increasing adoption of NFC payment technology by retail stores, vending machines and other points of purchase. OTI's NFC and contactless payment readers are certified by major credit card associations - including MasterCard, Visa, American Express, and Discover - for their contactless programs.

"We are excited to support the growing use of NFC and contactless payment technology in the U.S. Our line of NFC and contactless payment readers provide a robust and durable solution that assures superior user experience at the point of sale," said Oded Bashan, OTI's Chairman and CEO. "OTI provides an excellent alternative to customers who are looking for a financially solid, high quality supplier. This is in addition to several orders for more than 50,000 readers received from other customers this year for readers which are distributed across the U.S. and Europe."

OTI manufactures the NFC and contactless payment readers in its state of the art manufacturing facility, which received the Terminal Quality Management (TQM) certification from MasterCard. The TQM certification was created by MasterCard to ensure that the functionality of chip terminals, as certified during type approval testing by EMVCo, can be sustained throughout a manufacturing cycle.