OTI America to Exhibit EasyPark Patented Integrated Information and Payment System at the IPI Conference & Expo
- EasyPark is a unique system to automatically link between a specific parking space and payment device, providing cities with real-time utilization of the city real estate and parking management
- EasyPark provides cities with the ability to implement a modular, cost effective solution with minimum investment
- EasyPark provides closed campuses with a single, programmable, electronic parking solution, to meet all permit and pay-for-parking requirements
- The EasyPark system will be presented at the IPI Conference & Expo in Phoenix, Arizona, June 11-13, 2012 booth 303
Phoenix, AZ, June 11, 2012 – OTI America Inc., a subsidiary of On Track Innovations Ltd. (“OTI”) (NASDAQ GM: OTIV) announced today the company will exhibit at the 2012 International Parking Institute Conference & Expo in booth 303, June 11-13, 2012 at the Phoenix Convention Center, Phoenix, Arizona.
OTI America will demonstrate the newly designed EasyPark™ parking information and payment system. The new system is designed to provide municipalities and closed campuses with an end-to-end solution for all their information and payment needs revolving around parking payment. The system was designed and built taking into consideration the budget constraints of municipalities and universities, allowing for cost-effective modular implementation. At the center of the system is the EasyPark in-vehicle device providing the most cost effective and secure payment for parking solution to date. EasyPark is communicating with supporting information systems to provide real-time data for the driver and parking authority.
EasyPark is a unique offering where various parking technologies are fully integrated to form one comprehensive parking solution. With this solution, each driver can choose his preferred payment method, and can receive additional complementary services and information directly via his mobile phone.
The system, based on extensive patent and IP portfolio, allows for accurate automatic identification of vehicle and parking space, without the need to leave the vehicle, thus providing cities and drivers key new functionalities such as, among others:
- Real Time occupancy– Patented system to manage real-time parking occupancy info as well as automatic cost effective settlement of payment, allowing cities optimal utilization of their real estate, dynamic parking rates and efficient enforcement
- Guidance to available parking spot - Assisting drivers in locating an available parking space near their destination
- Mobile phone services- A state of the art pay-by-phone parking service with various mobile input methods (smartphone app, text messages (SMS) and voice)
- Off-street parking - enables automatic access and payment at private and public parking lots
EasyPark is ideal for closed campuses, providing a single, programmable, electronic parking solution to meet all permit and pay-for-parking requirements. The EasyPark can be assigned to students, faculty and staff for permit parking in designated areas. EasyPark can also be used for paying hourly rates in other parts of the campus as well as in adjacent towns, if accepted by the municipality.
About On Track Innovations Ltd. (www.otiglobal.com)
On Track Innovations Ltd. (“OTI”) designs, develops and markets ID-credentialing, payment and loyalty applications based on its extensive patent and IP portfolio. OTI combines standards-compliant and 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 NFC solutions, loyalty applications, petroleum payment, parking and mass transit ticketing. OTI markets and supports its solutions through a global network of regional offices and alliances.
Safe Harbor for Forward-Looking Statements
This press release contains 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. Whenever we use words such as “will”, "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions, we are making forward-looking statements. Because such statements deal with future events and are based on OTI America’s and/or OTI's current expectations, and not on factual events, they are subject to various risks and uncertainties and actual results, performance or achievements of OTI America and/or OTI could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding our goals, beliefs, future growth strategies, objectives, plans or current expectations from our new parking solutions, their introduction into the market and/or the implementation of our current and new EasyPark system features. Forward-looking statements could be impacted by market acceptance of new and existing products and our ability to execute production on orders at any specific time, as well as other risk factors that may influence the market, which are beyond the company’s control discussed, among others, in OTI's Annual Report on Form 20-F for the year ended December 31, 2011, which is on file with the Securities and Exchange Commission. Although OTI America and OTI believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, they can give no assurance that its expectations will be actually achieved. Except as otherwise required by law, OTI America and/or 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.
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