Apriva, a provider of omnichannel payment solutions and secure mobile communications, and On Track Innovations Ltd. (OTI) (NASDAQ: OTIV), a global provider of near field communication (NFC), cashless payment and fuel management solutions, announced today a partnership to bring a new end-to-end EMV solution to markets supporting unattended payments.
This pre-certified payment solution immediately supports magnetic stripe reader (MSR) transactions, and will soon be EMV certified on various processors through Apriva. As a semi-integrated solution, the OTI TRIO reader is securely interfaced with the Apriva gateway, which means a quick integration process for unattended systems. Security includes real-time data encryption, using the industry standard DUKPT (derived unique key per transaction) encryption method, with no cardholder or card data stored.
For over two decades, OTI has provided enterprises worldwide with cashless payment options, including NFC products and solutions. OTI´s TRIO is a modular payment device that can support up to three cashless payment interfaces in one enclosure. The TRIO is specifically designed for installation in unattended environments, such as kiosks and vending machines, to enable cashless payment with magnetic payment cards, as well as mobile (Apple Pay, Android PayTM, Samsung Pay), EMV chip and contactless payment cards.
Apriva´s payment gateway offers state-of-the-art security with end-to-end encryption, tokenization and EMV capabilities, while connecting a variety of payment devices to over 30 processors accepting all major debit and credit cards, in addition to campus cards in both the US and Canada. Apriva currently works with more than 1,100 merchant acquirers and independent sales organizations (ISOs) across North America, giving merchants and partners the choice to deploy end-to-end solutions that best fit their businesses.
Formed in 2003, Apriva is a provider of omnichannel payment solutions and secure mobile communications that meet the exacting security and reliability requirements of financial services providers, government entities and public service sectors. Through its two operating groups, Apriva Point of Sale (POS) and Apriva Information Security Systems (ISS), the company offers customers fully managed, end-to-end security solutions that incorporate hardware, software, network infrastructure and management tools.
On Track Innovations (OTI) is a global in the design, manufacture, and sale of secure cashless payment solutions using contactless NFC technology with an extensive patent and IP portfolio. OTI´s field-proven innovations have been deployed around the world to address cashless payment and management requirements for the Internet of Payment Things (IoPT), wearables, unattended retail and petroleum markets. OTI distributes and supports its solutions through a global network of regional offices and alliances, including UCP, Inc. in North America.