ISELIN, N.J., March 27, 2012 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. ("OTI") (Nasdaq:OTIV) today announced the filing of a patent infringement lawsuit alleging that T-Mobile USA, Inc. sells Near Field Communication (NFC) enabled phones that infringe OTI's U.S. Patent No. 6,045,043. NFC technology enables contactless payments with mobile phones, loyalty programs, data mining, and other applications. The lawsuit is pending in the United States District Court for the Southern District of New York, Case No. 12-CV-2224.
This patent is part of OTI's extensive intellectual property portfolio, including over 100 issued patents and pending patent applications encompassing product applications, software platforms, system and product architecture, product concepts and more in the fields of Near Field Communications (NFC), contactless payments, secure ID, petroleum and parking solutions.
"We believe in the strength and value of our intellectual property and have the resources to protect it," said Oded Bashan, OTI Chairman and CEO. "We are also happy to provide innovative technology and partner with others in the industry to facilitate the growing future of contactless payments, data capture, loyalty programs, and more."
OTI is a pioneer in the contactless payment market and supported MasterCard and Visa, among others, in the creation and implementation of contactless transaction processing and payment solutions. OTI provides NFC devices and reader solutions including the COPNI (Contactless Payment and NFC Insert) device, which adds NFC capability to existing (non-NFC) mobile phones.
"This lawsuit is another step in OTI's ongoing strategy to leverage its IP assets, following the recently announced technology license agreement with a multibillion dollar corporation, and the issuance in January this year of OTI's U.S. Patent No. 8,090,407, entitled "Contactless Smart SIM," Bashan explained.
About On Track Innovations Ltd. (www.otiglobal.com)
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 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, Near Field Communication (NFC), 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.
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