April 4, 2018
Agreement Entails Management of 272 “Smart City” Card Terminals Across 218 Post Offices Around Warsaw
On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC) and cashless payment solutions, today announced that its wholly-owned subsidiary, OTI Europa ASEC (ASEC S.A.), has signed a new contract with the Polish National Post Office (Poczta Polska S.A.) to manage Warsaw’s public transportation “Smart City” card program.
This postal point of sale (POS) kiosks will allow consumers to purchase or refill “Smart City” cards for public transportation in the Warsaw metropolis area via train, bus, or another mode of public transportation.
OTI will be providing both the payment portion, as well as software, in 272 “Smart City” card terminals throughout 218 post offices in Warsaw, whereby OTI will control the entire sales and payment process. This is a recurring revenue contract, but due to confidentiality, the terms of the contract cannot be disclosed. OTI Europa ASEC’s network now includes 800 POS points throughout Poland.
“Our ticketing sales network in Poland continues to gain traction, which we believe is a strong testament to the value we bring our customers and the citizens of Poland,” said Agnieszka Swiatly, Managing Director of OTI Europa ASEC. “Using our total solution, users of ‘Smart City’ cards throughout Warsaw will be able to conveniently purchase and refill their cards, even while visiting the post office.”
Poczta Polska S.A. is a company with a 460-year tradition, acting as the biggest postal operator on its local market (Poland) – the network includes 7,500 postal offices, subsidiaries, and agencies, all serving private and corporate customers.
OTI Europa ASEC (ASEC S.A.) is one of the largest operators of e-ticketing and paper ticket sales systems in the public transport on polish market. The company creates, delivers, implements and supports IT systems for public transport, OTI Europa ASEC provides and integrates certified solutions for contactless payments, allowing for quick cashless payment transactions with bank cards and NFC.
The company is a part of OTI – On Track Innovations. For more information, visit www.otieuropa.com.