ROSH PINA, ISRAEL--(Marketwired - Sep 23, 2013) - On Track Innovations Ltd. (OTI) (
EasyFuel Plus has been integrated into Tokheim's point of sale controllers for implementation at both commercial fleet and retail petroleum stations across 12 countries since the partnership was announced in September of 2010. The implementation for a prominent petroleum retailer is underway across four markets in Europe.
EasyFuel Plus equipment for Tokheim has been supplied to more than 250 locations, which includes more than 1,000 nozzles and 7,500 vehicles to date. OTI Africa, OTI's value-added reseller for EasyFuel Plus, manages the integration with Tokheim's point of sale controllers and the application business rules.
As an integral part of Tokheim's commercial fleet offering, SmartFuel reduces fraud and improves fuel management.
"The continued adoption of our EasyFuel Plus technology by Tokheim reflects the increasing strength of our strategic partnership and Tokheim's ability to successfully demonstrate how our technology secures and simplifies the payment processes," commented Ofer Tziperman, OTI's CEO. "The demand for EasyFuel Plus has gained momentum as customers globally recognize the benefits of automated vehicle identification and the need for quality data. We therefore envisage that our petroleum products will serve as one of the main growth engines for our business."
Kurt Dillen, general manager of Tokheim's Systems & Electronics Business Unit, commented: "It has been an interesting journey to develop and package with OTI the perfect vehicle identification solution for our fuel retail and fleet customers. As a result of a great effort and a high level of cooperation between the engineering teams of OTI and Tokheim, we can state today that we have the best-in-class solution in the world to simplify payment, increase throughput and improve the overall refueling experience. Tokheim is not only offering this product solution, but with our local service organizations we are also able to provide after sales service. I am convinced that Tokheim will deliver this easy-to-use solution to many more markets and customers in the following years."
Tokheim Group S.A.S., based in Paris, France, is one of the world's leading manufacturers and service providers of fuel dispensing and automation equipment. Tokheim is active in four business segments, fuel dispensers; automation and payment solutions; service and project management solutions for retail and commercial sites (ProFleet). With sales and service divisions in 33 countries, and distribution channels in 101 countries around the globe, Tokheim offers customers a complete range of fuel dispensers and pumps, retail automation systems, payment terminals, media devices, replacement parts and upgrade kits, and a full range of support services, including maintenance, service station construction and project management. For more information about Tokheim, go to www.tokheim.com.
About EasyFuel Plus
In its simplest form, external readers access information stored on a vehicle mounted tag or alternatively on a passive tag mounted around the fuel inlet. This information is required to approve any fuel transaction and should the information not prove valid, refuelling is denied.
The EasyFuel Plus solution has full read/write capability, which allows designated information to be written to the tag from a remote head office location thereby removing the unnecessary cost and inconvenience of updating tag information at customers' premises using field technicians.
The ability to alter the functionality of the tag through remote software upgrades enhances the flexibility of the tag as a mobile computing platform. New applications and features such as loyalty indicators and maintenance records can be added after implementation with a simple download to the OTI devices, which include vehicle tags, driver tags, key fobs or smart cards. Moreover, devices can be dynamically suspended or deactivated in the field.
The validity of the method of payment can be verified offline or online. Due to the flexibility and security of the OTI technology platform, a wide range of business rules such as the fuel grade, tank capacity and velocity checks can be managed offline.
The EasyFuel vehicle tag supports various inputs, including simultaneous support for both engine hour and odometer readings. The introduction of innovative solutions such as the GOS unit (GPS odometer sender) to measure distance travelled independently of the vehicle and anti-siphoning units designed for use in conjunction with EasyFuel, further serve to differentiate OTI's product offering. OTI's ability to support pre-payment on its devices, including vehicle tags (without the reliance on back-end systems) further serves to differentiate its product offering.
On Track Innovations Ltd. (OTI) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. OTI's field-proven innovations have been deployed around the world to address NFC payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.
Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on OTI's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in OTI's annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.