OTI reports USD2 million orders for its NFC and contactless readers

Demand for NFC payment technology

There appears to be strong demand for NFC and contactless payment technology in the US. ON Track Innovations (OTI) claims to be one of the company’s benefiting, as it has reported receipt orders valued at approximately USD2 million for its NFC and contactless readers. OTI which designs, develops and markets payment and loyalty applications, plans to deliver part of the NFC and contactless payment readers to its customers in 2012 and the rest in 2013.

The readers will support the increasing adoption of NFC payment technology by retails 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 programmes. 

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