oti pilots new NFC and cashless payment Solutions for Apple iPhones

oti piloting its new WAVE and NFC Insert mobile add-on devices with several banks and mobile network operators.

On Track Innovations (oti), a developer of NFC and cashless payment solutions, C piloting its new WAVE and NFC Insert mobile add-on devices with several banks and mobile network operators for earlier-generation Apple iPhones.

Oti CEO Ofer Tziperman said: “With the launch of Apple’s iPhone 6, the oti 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.”

WAVE is an audio-jack plug-in device that can turn earlier-generation iPhones and iPads into NFC-enabled payment devices.

The secure element of oti’s WAVE device connects to a Smartphone’s operating system via the audio jack, allowing PIN code authentication and secure over-the-air (OTA) provisioning capabilities.

It also allows loading of card data, reloading electronic cash, remote personalization, and firmware updates, the company said.

The WAVE runs on a Java-based software over a secure element and provides open application interfaces (API) for third-party development.

It supports multi-applications for payment, credit, debit and pre-paid cards, loyalty, healthcare, access control and security, all on the same device.

Also, the platform can also work independently from the iPhone for making quick payments like at mass transit turnstiles.

While, oti’s NFC Insert is an off-the-shelf NFC-enablement solution comprised of a thin film NFC antenna that connects to the iPhone operating system via the SIM card. The antenna folds onto the backside of the iPhone where it is protected by any standard case.

The company claims that several mobile operators around the globe are currently piloting this NFC add-on