Source: On Track Innovations
On Track Innovations Ltd, (OTI) (Nasdaq: OTIV; Prime Standard [Frankfurt]: OT5), a global leader in contactless microprocessor-based smart card solutions, for homeland security, micropayments, petroleum payments and other applications, today announced that its Saturn 5000 contactless reader received certification from American Express (NYSE:AXP) to support its ExpressPay contactless payment program.
This follows OTI's recent announcement as the only company to date to obtain type approvals on both its MasterCard PayPass compatible card and reader solutions.
ExpressPay is an easy-to-use alternative to cash for making purchases at merchants where speed and convenience are important -- such as quick serve restaurants, supermarkets, drug stores, gas stations, and corporate cafeterias. Users simply hold the ExpressPay key fob next to a companion reader at checkout to make purchases. Payment is authorized in seconds and no signature is required. ExpressPay links directly to an existing credit, charge or debit card to fund the purchase.
The Saturn 5000 is built to allow quick upgrades of existing POS terminals to accept contactless payments, with the reader facing the customer for easier payment experience. The Saturn 5000 can support multiple applications and is currently compatible with all major POS terminal providers. Supporting the major financial contactless programs, the software integrated in the Saturn 5000 can read a variety of sources including credit cards and key fobs. OTI also offers OEM solutions that can be integrated into payment terminals.