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On Track Innovations +12.7% on NFC trial with financial firm

Sep. 23, 2014 10:28 AM ETOn Track Innovations Ltd. (OTIVF) StockBy: Eric Jhonsa, SA News Editor2 Comments
  • On Track Innovations (OTIV) and payment card manufacturer ABNote have launched "a major NFC mobile electronic payment trial with one of the largest financial institutions in North America."
  • The solution combined OTIV's Wave NFC dongle (connects to a smartphone/tablet's audio jack) and ABNote's mobile wallet and secure authorization service (Trusted Service Manager).
  • The deal shortly follows the launch of Apple Pay, which (unlike Wave) relies on an NFC radio embedded within iOS hardware, along with a fingerprint reader for authentication.

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