OTI Receives US Patent for Contactless Smart SIM

This latest patent, entitled "Contactless Smart SIM", was issued on January 3, 2012, and covers the capabilities necessary to turn existing mobile handsets into Contactless / NFC capable devices through the incorporation of a SIM card and a specifically designed antenna, all while keeping the phone and operating system fully agnostic.

This patent is part of OTI's extensive patent and IP portfolio, including over 100 issued patents and patent applications in various stages of preparation encompassing product applications, software platforms, system and product architecture, product concepts and more in the fields of contactless payments and Near Field Communications (NFC); ID; Petroleum and Parking solutions.

Oded Bashan, OTI's Chairman and CEO, commented, "This new patent granted to OTI by the USPTO is a further recognition of the uniqueness and applicability of OTI's technology. This patent will ensure that our highly sophisticated technology, which we continuously look to leverage through licensing and partnership opportunities, is protected for years to come, allowing us to establish a cost effective implementation of aftermarket NFC solutions and create additional sources of revenue."

About On Track Innovations Ltd.

On Track Innovations Ltd. ("OTI") designs, develops and markets secure identification, payment and transaction processing technologies and solutions for use in secure ID, payment and loyalty applications based on its extensive patent and IP portfolio. OTI combines state-of-the-art, contactless microprocessor-based technologies and enabling hardware with proprietary software applications to deliver high performance, end-to-end solutions that are secure, robust and scalable. OTI solutions have been deployed around the world to address homeland security, national ID, medical ID, contactless payment and loyalty applications, petroleum payment, parking and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances.