ISELIN, N.J., April 9, 2012 (GLOBE NEWSWIRE) -- On Track Innovations Ltd. ("OTI") (Nasdaq:OTIV) announced today that the City of Austin had announced that OTI America Inc., a wholly owned subsidiary of OTI, was selected for the deployment of EasyPark™ electronic parking management and payment system. EasyPark will simplify the process of paying for parking in the City of Austin.
Austin, the capital of Texas and the 14th most populous city in the U.S. with a population of 790,000, is the first major U.S. city to adopt the EasyPark system. EasyPark is currently used in 125 municipalities around the world, including Tel Aviv and Jerusalem in Israel, Lille and Lyon in France, Turin in Italy and Bermuda, with total device sales of over a million units. In February 2012, the EasyPark system was introduced to the U.S. with the first implementation in the University of California Davis campus.
EasyPark is a unique parking management system that offers a 'one-stop-shop' solution for a city's information and payment needs. The EasyPark system can be launched with minimal investment in infrastructure, ongoing maintenance or overhead costs that are required by other parking payment systems.
Last week the newly designed EasyPark™ parking information and payment system was launched. The new system, based on OTI's extensive patent and IP portfolio, is designed to provide municipalities with a 'one-stop-shop' 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, allowing for cost effective modular implementation. At the center of the system is the EasyPark in-vehicle device providing the most cost effective and secured payment for parking solution to date. By communicating with supporting information systems to provide real-time data for the driver and authorities, EasyPark eliminates the hassle for a driver to find a working meter, look for coins and then return to their vehicle with a receipt to place on their dashboard. EasyPark enables drivers to simply park and go.
"We are excited to bring the EasyPark system to a major U.S. metropolitan area and expand upon existing programs," said Oded Bashan, OTI's Chairman and CEO. "Our parking management solution is already being used by multiple municipalities, with more than 1 million of our EasyPark in-vehicle devices sold. At the core of its success is both the ease in which the EasyPark device can be introduced by a city and the speed that a driver can begin using it."
Pre-registration for EasyPark devices in Austin is available at: www.EasyParkUSA.com.
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.
The On Track Innovations Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5736
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