OIL

OTI PetroSmart Awarded Global Tender by Multinational Oil

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 OTI PetroSmart, a global value added reseller of petroleum payment solutions and a wholly owned subsidiary of On Track Innovations Ltd. (oti) (NASDAQ: OTIV), has been awarded a global tender to supply its AVI (Automated Vehicle Identification) solution,EasyFuel Plus, to an emerging multinational oil company for its retail operations which currently span across 3 major regions.

The OilCo in question has embarked on a strategy to standardize its retail site architecture and as part of this process issued a tender for an AVI solution. EasyFuel Plus was selected following a competitive and rigorous evaluation.

Two markets have already been selected for pilot implementations and it is envisaged that the EasyFuel Plus solution will be deployed in at least three markets in 2015. OTI PetroSmart will generate revenues from equipment sales, ongoing monthly volume-based and transaction processing revenues, fuel management reporting, and other support services.

 “We are particularly proud of this award, which not only serves as further validation of the superiority of the EasyFuel Plus solution and our technical architecture, which leverages our universal integration approach, but also serves to acknowledge OTI PetroSmart’s track record, positioning and capacity to address the system integration; implementation; remote support and back-office information management and reporting requirements of major petroleum retailers,” said Charlotte Hambly-Nuss, Managing Director of OTI PetroSmart.

 EasyFuel Plus is based on oti’s state-of-the-art contactless smart card technology platform, providing customers with maximum flexibility and security. The solution allows organizations to address fuel fraud and meet savings targets by automating the payment process and gathering of data for fuel management purposes.

 As part of the customer’s overall fleet management solution, OTI PetroSmart’s AVI solution will be leveraged to expedite and assimilate future retail gas station acquisitions by the oil company. The customer plans to introduce EasyFuel Plus to the commercial and consumer markets with the objective of increasing its fuel sales and market share.

 “We continue to see a notable increase in the number of tenders being issued for AVI solutions,” added Hambly-Nuss. “AVI is rapidly becoming a benchmark in the B2B market, where the cost of fuel represents a significant portion of the overall operating cost for customers.”

About EasyFuel Plus

In EasyFuel Plus’ most basic configuration, wireless readers installed in a gas station and contactless readers installed on the nozzle access information stored on a vehicle mounted tag or alternatively on a passive contactless tag mounted around the fuel inlet. This information is required to approve any fuel transaction and should the information not prove valid, refuelling is denied.

 

 

 

 

 

 

 

 

 

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