On Track Innovations Ltd (NASDAQ: OTIV) a global provider of near field communication and cashless payment solutions, saw its shares jump 122.3% Monday after the company disclosed that it's "developing capabilities to implement the use of bitcoins in its cashless payment solutions.”
Bitcoin usage is growing in the e-payment marketplace, with many establishments accepting online Bitcoins transactions. Bitcoin usage has benefited from a growing acceptance of its ongoing facilitation of transfers. It's fast becoming the prominent digital Internet transaction currency.
The Israel-based company’s CEO Shlomi Cohen was quoted Monday as saying, "at OTI, we are working hard and intend to rapidly become Bitcoin acceptable in transactions via NFC, Bluetooth or QR code We also look forward to integrating Bitcoin acceptance in our innovative ATM and secure cashless vending products."
On Track Innovations is a global leader 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, automated retail and petroleum markets.
OTI distributes and supports its solutions through a global network of regional offices and alliances. OTI is the proud recipient of the 2017 AI Award for Best Cashless Payment Solutions Provider – Israel.
Shares in On Track rocketed 49 cents, or 21.4%, Tuesday to $2.78
