On Track Innovations Ltd (USA) (OTIV) Gets a Boost from Apple Inc (AAPL)’s iPhone 6 Launch

Apple (AAPL)

Apple Inc (NASDAQ:AAPL) broke its previous record of pre-order sales with 4 million units booked within 24 hours of opening. Both iPhone 6 and iPhone 6 Plus have received an extraordinary response from the market. Amid the success of Apple Inc (NASDAQ:AAPL)’s iPhone 6, On Track Innovations Ltd (USA) (NASDAQ:OTIV) has turned out to be another winner out of the launch.

On Track Innovations Ltd (USA) (NASDAQ:OTIV) is known for its cashless payment solutions and near field communications (NFC) technology. Apple introduced NFC-payment technology in its latest version of iPhone i.e. iPhone 6, which has boosted the technology firm’s reputation. Apple Inc (NASDAQ:AAPL) has joined hands with other major NFC-enabled Smartphone providers including Samsung Electronics Co Ltd (KRX:005930), Nokia, Motorola, LG, and HTC.

Apple (AAPL)

Ofer Tziperman, CEO of On Track Innovations Ltd (USA) (NASDAQ:OTIV), said,

“With the launch of Apple’s iPhone 6, the WAVE becomes the leading cost-effective solution for existing iPhone and iPad models that enables secure NFC payment transactions. Apple’s adoption of NFC technology is a strong validation of our long-term vision and investment in NFC technology, as well as that of our partners and business customers.”

Further, On Track Innovations Ltd (USA) (NASDAQ:OTIV) announced that the company is working to produce add-on devices for earlier versions of Apple iPhone 4, 4S, 5, 5S, and iPad devices to facilitate NFC transactions. Consumers can plug-in oti WAVE device to their iPhone and Android devices for contactless payments, NFA, and MIFARE capabilities.

After closing at $3.61 on Monday, On Track Innovations Ltd (USA) (NASDAQ:OTIV) share prices have increased by 24.91% after the September 9 launch event from Apple Inc (NASDAQ:AAPL). The company is likely to witness more growth and money infusion from investors.

This article has been written by Prakash Pandey.

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“MasterCard Inc (MA) Believes That Apple Inc (AAPL)’s Apple Pay Is Safe”

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