OTI delivers contactless card system to Garanti Bank

Source: On Track Innovations

On Track Innovations Ltd. (OTI) (NASDAQ:OTIV), a global leader in contactless microprocessor-based smart card solutions for homeland security, payments, petroleum payments and other applications, announced today that it is providing Garanti Bank of Turkey 'Tap & Go' inlay solutions.

As previously announced, Garanti bank is reissuing "Tap & Go" cards, which use MasterCard PayPass technology, to its Bonus cardholders.

Mehmet Sezgin, General Manager, Garanti Payment Systems, said: "OTI's extensive experience provides a reliable and cost-effective way to bring contactless solutions to our market. The possibility of any form factor necessary such as inlays, key fobs, wristwatches, including reader solutions, will help us differentiate ourselves in Turkey's highly competitive payments market.

Oded Bashan, Chairman, President and CEO of OTI commented: "We are happy to support Garanti bank in its initiative for contactless payments. With OTI experience and expertise, we allow our customers to introduce a cost-effective, reliable and secure solution in short time to market."

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