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OTI Expands Network in Africa by Appointing BureauFax Technologies as Distributor in Nigeria
Rosh Pina, Israel (ots) - OTI (Neuer Markt: OT5) today announced that its wholly owned subsidiary OTI Africa has entered into a distribution agreement with BureauFax Technologies (BFT), a leading payment systems integrator in Nigeria and a key player in launching smart cards in that country. BFT will focus on OTI's contactless microprocessor-based smart card solutions for secure payment and loyalty, gasoline management systems, and applications for the health care industry.
"We welcome BureauFax Technologies to OTI's distribution network in Africa," said Oded Bashan, President and CEO of OTI. "Our presence in Africa is growing rapidly as the market embraces our contactless smart card solutions."
"We at BFT are excited about our agreement with OTI. We believe the solutions offered by OTI are the most applicable to the needs of the market and are committed to the success of OTI's superior smart card solutions. We look forward to expanding OTI's presence in Nigeria," said Tope O. Onabolu, Managing Director/CEO of BureauFax Technologies.
This agreement will expand the market presence of OTI's patented contactless microprocessor-based smart card solutions to the financial services industry in Nigeria. BFT provides state-of-the-art technology solutions to the financial services industry for payments and transaction processing, and currently accounts for about 70% of the clearing and processing market in the country. BFT's experience in smart card technologies includes the launch of smart cards in Nigeria with over 34 leading banks and the establishment of the first full online multi-application payment system/ATM network. The companies intend to leverage BFT's successes and existing partnerships to secure projects in niche markets as well as in the mainstream financial community.
"BFT is a premier partner in the financial services processing arena in Nigeria," added Charlotte Hambly-Nuss, Managing Director of OTI Africa. "With this agreement BFT will deliver OTI's secure, user-friendly smart card solutions to the banking, petroleum, and health care communities, enabling them to invest in a flexible platform ready for future applications."
Established in 1990, OTI (On Track Innovations) designs and develops contactless microprocessor-based smart card technology to address the needs of a wide variety of markets. Applications developed by OTI include product solutions for mass transit, parking, gas management systems, loyalty schemes, ID and secure campuses. OTI has regional offices in the US, Europe, Asia Pacific, and Africa to market and support its products. The company was awarded the prestigious ESCAT Award for smart card innovation in both 1998 and 2000. Visit OTI on the Internet at www.oti.co.il.
OTI Africa, a subsidiary of OTI Limited, is responsible for the distribution, installation and maintenance of OTI's products and technology in the African market. Users of the OTI technology have access to an experienced and professional management team who lead and guide dedicated functions in sales, marketing, installation, technical, development and support services.
About BureauFax Technologies
BureauFax Technologies Limited ("BFT") is a company incorporated in the Federal Republic of Nigeria on 11th March 1988 under the Companies Act 1968 (as amended by CAMD '90). BFT's goal from the onset was to develop seamless solutions leveraging innovative technology and products that would most effectively fulfil the performance requirements of financial service providers seeking to add value to their customers at competitive costs. To establish an enduring presence in a rapidly changing market, BFT has focused, since its inception, upon being the preferred value-added reseller and systems integrator.
ots Originaltext: OTI
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