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OTIV » Topics » Our Products

This excerpt taken from the OTIV 20-F filed May 22, 2006.

Our Products

Our products consist of:

Payment Solutions.

        We typically design our payment solutions while teaming up with financial institutions and back office providers. These solutions offer a cashless system and loyalty program for small purchases, such as fast food, gasoline and movie tickets. Our payment solutions include the following:

  — PayPass™. OTI is supplying key components of the technology for multiple contactless payment programs, driven by major financial institutions: MasterCard International’s PayPass™ program, Visa contactless program and ExpressPay™ from American Express.

  — E-purse (Stored Value Cards). We have developed a product that enables a person to load pre-paid value on a card, which provides float for issuers, while enabling cardholders to pay for small purchases in environments such as phone booths, vending machines and fast food restaurants, without the need for exact change.

  — As of the date of this annual report, we have not derived revenues from sales of our E-purse product.

  — Parking payment system. Our electronic parking payment system, which we refer to as EasyPark, enables drivers to be charged for the exact period of time they are parked and simplifies the monitoring and collection of parking fees. Drivers are issued contactless microprocessor-based smart cards, or EasyPark cards, to replace existing parking payment methods, including parking meters. The EasyPark card stores the amount of money, or the balance that is available for payment of parking fees. A driver can increase the balance at special self-service kiosks placed at convenient locations. Compliance with parking regulations is monitored by inspectors using specially designed hand-held terminals.

23

  In May 1999, the EasyPark system was selected as the national parking system for Israel. During 2000, the system was widely implemented throughout Israel. In 2005, The Union of Local Authorities in Israel extended EasyPark’s contract for an additional five years term. The program currently has more than 250,000 subscribers, and is currently in use in 26 cities across the country. We are currently marketing the EasyPark system through our global network of subsidiaries.

  — Mass transit. We have designed a product that enables efficient fare collection from a large volume of passengers in various types of mass transportation systems, such as buses and trains. The smart card serves as the passenger’s ticket. The chip in the smart card stores the passenger’s fare balance and is debited with the fare when the passenger boards or disembarks. The balance on the smart card can be increased repeatedly. OTI is marketing this product to system integrators that specialize in mass transit solutions. For example, we have announced that we are working with Scheidt & Bachmann.

Petroleum Systems.

        Our petroleum systems include EasyFuel and GMS (gasoline management system):

  — EasyFuel. Our wireless petroleum solution is named EasyFuel. EasyFuel incorporates options for retail and private fleets as well as a pay-at-the-pump solution. The system monitors and expedites the fueling and payment process through a completely wireless detection and authorization system. This system is also ideally positioned for the retail petroleum market by enabling drivers to pay for gasoline at the pump, pay for other services and products at the gas station and earn loyalty points for these purchases.

  — GMS. GMS records and monitors the identity of the driver and the vehicle, the driver’s or fleet’s credit status, the vehicle’s fuel consumption and other information determined by the customer, such as periodic vehicle maintenance. By processing and managing this information, GMS allows oil companies and fleet managers to receive billing information automatically, simplify payment processes, track the use of each vehicle and reduce the risk of theft or fraud. GMS also enhances the loyalty of fleet drivers and managers to oil companies operating participating gas stations.

  The information is communicated via an antenna in the vehicle’s gas tank to an antenna mounted on the fuel nozzle when the fuel nozzle is inserted into the vehicle’s gas tank, and is then transferred to the gas station computer. Disengaging the nozzle from the gas tank will immediately turn off the pump.

  The following diagram illustrates a typical GMS system:

  We commenced sales of GMS in 1995. GMS is being used by a number of petroleum companies, such as BP South Africa in Africa, Turcas in Turkey and Mobil in Ecuador. As of December 31, 2005, a total of approximately 900 gas stations have been equipped with GMS, including in South Africa, Turkey and Ecuador, and we have delivered GMS equipment for approximately 105,000 vehicles.

24

Smart ID Solutions.

        Our smart identification products combine the portability of smart cards with the capability to support advanced identification and authentication technology and manage significant amounts of information. Our smart identification products include the following:

  — e-passport/National ID. We have developed a product that supports advanced authentication methods developed by other companies. Authentication methods are required by governments for identification documentation. Biometric identification involves inputting data regarding the physical characteristics of the smart card holder, such as his fingerprints or facial impression, into the smart card. This data is stored in the smart card and compared with the actual characteristics of the smart card holder when the card is presented for identity validation. This enables governments to transition from paper-based national documentation systems to a more cost-effective paperless identification system, encompassing multiple forms of government identification such as passports, national identification cards, driver’s licenses and national health cards. In addition, we have incorporated our antenna module into a sticker. The sticker can be attached to existing paper documentation, thus converting it into a contactless smart card.

  The Israeli government selected our technology and products for use in a system controlling passage between Israel and areas governed by the Palestinian Authority which will be supplied by Electronic Data Systems.

  Recently, we announced that we established together with a government entity of a major Asian country, a joint venture for the manufacture and sale of OTI-based travel document inlays for such government.

  — MediSmart. Our MediSmart product is designed to secure, process and manage medical information by providing doctors and hospital administrators with information regarding the patient’s identity, medical history, insurance coverage and payment history. This information can be automatically updated after each treatment. Treatment information can be automatically transferred to the insurance provider’s computer system. This product reduces costs to medical providers, provides increased security for a patient’s medical history and improves the quality and speed of service to patients. We began field tests of the product in South Africa in 2003 and the product was successfully deployed in June 2004 by CareCross Health, the leading primary healthcare provider in South Africa.

This excerpt taken from the OTIV 20-F filed Oct 28, 2005.

Our Products

Our products consist of:

Micropayments Solutions.

        We typically design our micropayments solutions while teaming up with financial institutions and back office providers. These solutions offer a cashless system and loyalty program for small purchases, such as fast food, gasoline and movie tickets. Our micropayments solutions include the following:

  — PayPass™. An OTI micropayments solution is supplying key components of the technology behind MasterCard International’s PayPass™, a new contactless card payment program that can be utilized at any of MasterCard’s more than 29 million acceptance locations around the world. We commenced sales of micropayments solutions in 1998. Sales of micropayments accounted for $5.3 million (or 23%) of our revenues in 2004, $2.0 million (or 10%) of our revenues in 2003 and $2.3 million (or 13%) of our revenues in 2002.

  — E-purse (Stored Value Cards). We have developed a product that enables a person to load pre-paid value on a card, which provides float for issuers, while enabling cardholders to pay for small purchases in environments such as phone booths, vending machines and fast food restaurants, without the need for exact change.

21

  As of the date of this annual report, we have not derived revenues from sales of our E-purse product.

  — Parking payment system. Our electronic parking payment system, which we refer to as EasyPark, enables drivers to be charged for the exact period of time they are parked and simplifies the monitoring and collection of parking fees. Drivers are issued contactless microprocessor-based smart cards, or EasyPark cards, to replace existing parking payment methods, including parking meters. The EasyPark card stores the amount of money, or the balance that is available for payment of parking fees. A driver can increase the balance at special self-service kiosks placed at convenient locations. Compliance with parking regulations is monitored by inspectors using specially designed hand-held terminals.

  In May 1999, the EasyPark system was selected as the national parking system for Israel. During 2000, the system was widely implemented throughout Israel. We are currently marketing the EasyPark system through our global network of subsidiaries.

  — Mass transit. We have designed a product that enables efficient fare collection from a large volume of passengers in various types of mass transportation systems, such as buses and trains. The smart card serves as the passenger’s ticket. The chip in the smart card stores the passenger’s fare balance and is debited with the fare when the passenger boards or disembarks. The balance on the smart card can be increased repeatedly. Our former joint venture in Hong-Kong, e-Smart Systems, received the first commercial order for this product for installation in a mass transit system in China. Installation of the system commenced in the first quarter of 2001. In 2002 less than 2%, and in 2003 and 2004 less than 1%, of our revenues were derived from this system.

Petroleum Systems.

        Our petroleum systems include our gasoline management system, or GMS, and EasyFuel. Sales of our petroleum systems accounted for $2.9 million (or 13%) of our revenues in 2004, $4.6 million (or 23%) of our revenues in 2003, $2.5 million (or 14%) of our revenues in 2002, $1.2 million (or 6%) of our revenues in 2001 and $1.6 million (or 12%) of our revenues in 2000.

  — GMS. GMS records and monitors the identity of the driver and the vehicle, the driver’s or fleet’s credit status, the vehicle’s fuel consumption and other information determined by the customer, such as periodic vehicle maintenance. By processing and managing this information, GMS allows oil companies and fleet managers to receive billing information automatically, simplify payment processes, track the use of each vehicle and reduce the risk of theft or fraud. GMS also enhances the loyalty of fleet drivers and managers to oil companies operating participating gas stations.

  The information is communicated via an antenna in the vehicle’s gas tank to an antenna mounted on the fuel nozzle when the fuel nozzle is inserted into the vehicle’s gas tank, and is then transferred to the gas station computer. Disengaging the nozzle from the gas tank will immediately turn off the pump.

22

  The following diagram illustrates a typical GMS system:

  We commenced sales of GMS in 1995. GMS is being used by a number of petroleum companies, such as BP South Africa in Africa, Turcas in Turkey and Mobil in Ecuador. As of December 31, 2004, a total of approximately 900 gas stations have been equipped with GMS, including in South Africa, Turkey and Ecuador, and we have delivered GMS equipment for approximately 105,000 vehicles.

  — EasyFuel. Our wireless petroleum solutions are named EasyFuel. Similar to GMS, EasyFuel incorporates options for retail and private fleets as well as a pay-at-the-pump solution. The system monitors and expedites the fueling and payment process through a completely wireless detection and authorization system. This system is also ideally positioned for the retail petroleum market by enabling drivers to pay for gasoline at the pump, pay for other services and products at the gas station and earn loyalty points for these purchases.

Smart ID Solutions.

        Our smart identification products combine the portability of smart cards with the capability to support advanced identification and authentication technology and manage significant amounts of information. Our smart identification products include the following:

  — e-passport/National ID. We have developed a product that supports advanced authentication methods developed by other companies. Authentication methods are required by governments for identification documentation. Biometric identification involves inputting data regarding the physical characteristics of the smart card holder, such as his fingerprints or facial impression, into the smart card. This data is stored in the smart card and compared with the actual characteristics of the smart card holder when the card is presented for identity validation. This enables governments to transition from paper-based national documentation systems to a more cost-effective paperless identification system, encompassing multiple forms of government identification such as passports, national identification cards, driver’s licenses and national health cards. In addition, we have incorporated our antenna module into a sticker. The sticker can be attached to existing paper documentation, thus converting it into a contactless smart card.

  The Israeli government selected our technology and products for use in a system controlling passage between Israel and areas governed by the Palestinian Authority which will be supplied by Electronic Data Systems.

  Sales of our national documentation product commenced in 2003, and accounted for $1.3 million (or 6%) of our revenues in 2004 and 1% of our revenues in 2003.

  — MediSmart. Our MediSmart product is designed to secure, process and manage medical information by providing doctors and hospital administrators with information regarding the patient’s identity, medical history, insurance coverage and payment history. This information can be automatically updated after each treatment. Treatment information can be automatically transferred to the insurance provider’s computer system. This product reduces costs to medical providers, provides increased security for a patient’s medical history and improve the quality and speed of service to patients. We began field tests of the product in South Africa in 2003 and the product was successfully deployed in June 2004 by CareCross Health, the leading primary heathcare provider in South Africa, and in October 2004 by HARMONIX® – Outpatient Mental health Services in the U.S.

23

Campus Systems.

        Our campus system provides applications such as access control, pre-paid value cards for small purchases, cafeteria access and copy machine payments on a single card. We designed our OTI campus system for use in self-contained or campus environments, including closed communities, senior citizen homes, universities, schools and corporate facilities. Each campus user is provided with a contactless smart card that provides secured access to different areas of the campus, and can include various types of e-purse applications, monitoring of time and attendance at work, vending machine functions, gasoline management and cafeteria operations.

        Our OTI campus system has been in full commercial operation in over 40 kibbutzim in Israel since 1993, more than 20 residential complexes in Hong Kong since 1997, two senior citizen homes in Israel since 1998 and a country club in Israel since 2000. We also have installed a campus system operation at a university in Germany. In January, 2001, we established a relationship with Xerox to market our campus system in the United States. Sales of our campus system accounted for $4.7 million (or 20%) of our revenues in 2004, $6.4 million (or 33%) of our revenues in 2003 and $6.8 million (or 38%) of our revenues in 2002.

        Our previously wholly-owned German subsidiary, InterCard Kartensysteme, also sells and manages campus systems, operated by cards based on a wide array of technologies, including magnetic strips, ASIC-based systems and contact microprocessor-based systems, provided by a number of companies, such as GemPlus and Cards & More GmbH. During 2004, InterCard Kartensysteme’s campus system was used in over 80 universities in Germany under the name UniCard. The primary difference between the OTI campus system and InterCard Kartensysteme’s campus system is that InterCard Kartensysteme’s campus system includes management and clearing software for closed campus environments and is based solely on contact cards.

This excerpt taken from the OTIV 20-F filed May 4, 2005.

Our Products

Our products consist of:

Micropayments Solutions.

        We typically design our micropayments solutions while teaming up with financial institutions and back office providers. These solutions offer a cashless system and loyalty program for small purchases, such as fast food, gasoline and movie tickets. Our micropayments solutions include the following:

  — PayPass™. An OTI micropayments solution is supplying key components of the technology behind MasterCard International’s PayPass™, a new contactless card payment program that can be utilized at any of MasterCard’s more than 29 million acceptance locations around the world. We commenced sales of micropayments solutions in 1998. Sales of micropayments accounted for $5.3 million (or 23%) of our revenues in 2004, $2.0 million (or 10%) of our revenues in 2003 and $2.3 million (or 13%) of our revenues in 2002.

  — E-purse (Stored Value Cards). We have developed a product that enables a person to load pre-paid value on a card, which provides float for issuers, while enabling cardholders to pay for small purchases in environments such as phone booths, vending machines and fast food restaurants, without the need for exact change.

21

  As of the date of this annual report, we have not derived revenues from sales of our E-purse product.

  — Parking payment system. Our electronic parking payment system, which we refer to as EasyPark, enables drivers to be charged for the exact period of time they are parked and simplifies the monitoring and collection of parking fees. Drivers are issued contactless microprocessor-based smart cards, or EasyPark cards, to replace existing parking payment methods, including parking meters. The EasyPark card stores the amount of money, or the balance that is available for payment of parking fees. A driver can increase the balance at special self-service kiosks placed at convenient locations. Compliance with parking regulations is monitored by inspectors using specially designed hand-held terminals.

  In May 1999, the EasyPark system was selected as the national parking system for Israel. During 2000, the system was widely implemented throughout Israel. We are currently marketing the EasyPark system through our global network of subsidiaries.

  — Mass transit. We have designed a product that enables efficient fare collection from a large volume of passengers in various types of mass transportation systems, such as buses and trains. The smart card serves as the passenger’s ticket. The chip in the smart card stores the passenger’s fare balance and is debited with the fare when the passenger boards or disembarks. The balance on the smart card can be increased repeatedly. Our former joint venture in Hong-Kong, e-Smart Systems, received the first commercial order for this product for installation in a mass transit system in China. Installation of the system commenced in the first quarter of 2001. In 2002 less than 2%, and in 2003 and 2004 less than 1%, of our revenues were derived from this system.

Petroleum Systems.

        Our petroleum systems include our gasoline management system, or GMS, and EasyFuel. Sales of our petroleum systems accounted for $2.9 million (or 13%) of our revenues in 2004, $4.6 million (or 23%) of our revenues in 2003, $2.5 million (or 14%) of our revenues in 2002, $1.2 million (or 6%) of our revenues in 2001 and $1.6 million (or 12%) of our revenues in 2000.

  — GMS. GMS records and monitors the identity of the driver and the vehicle, the driver’s or fleet’s credit status, the vehicle’s fuel consumption and other information determined by the customer, such as periodic vehicle maintenance. By processing and managing this information, GMS allows oil companies and fleet managers to receive billing information automatically, simplify payment processes, track the use of each vehicle and reduce the risk of theft or fraud. GMS also enhances the loyalty of fleet drivers and managers to oil companies operating participating gas stations.

  The information is communicated via an antenna in the vehicle’s gas tank to an antenna mounted on the fuel nozzle when the fuel nozzle is inserted into the vehicle’s gas tank, and is then transferred to the gas station computer. Disengaging the nozzle from the gas tank will immediately turn off the pump.

22

  The following diagram illustrates a typical GMS system:

  We commenced sales of GMS in 1995. GMS is being used by a number of petroleum companies, such as BP South Africa in Africa, Turcas in Turkey and Mobil in Ecuador. As of December 31, 2004, a total of approximately 900 gas stations have been equipped with GMS, including in South Africa, Turkey and Ecuador, and we have delivered GMS equipment for approximately 105,000 vehicles.

  — EasyFuel. Our wireless petroleum solutions are named EasyFuel. Similar to GMS, EasyFuel incorporates options for retail and private fleets as well as a pay-at-the-pump solution. The system monitors and expedites the fueling and payment process through a completely wireless detection and authorization system. This system is also ideally positioned for the retail petroleum market by enabling drivers to pay for gasoline at the pump, pay for other services and products at the gas station and earn loyalty points for these purchases.

Smart ID Solutions.

        Our smart identification products combine the portability of smart cards with the capability to support advanced identification and authentication technology and manage significant amounts of information. Our smart identification products include the following:

  — e-passport/National ID. We have developed a product that supports advanced authentication methods developed by other companies. Authentication methods are required by governments for identification documentation. Biometric identification involves inputting data regarding the physical characteristics of the smart card holder, such as his fingerprints or facial impression, into the smart card. This data is stored in the smart card and compared with the actual characteristics of the smart card holder when the card is presented for identity validation. This enables governments to transition from paper-based national documentation systems to a more cost-effective paperless identification system, encompassing multiple forms of government identification such as passports, national identification cards, driver’s licenses and national health cards. In addition, we have incorporated our antenna module into a sticker. The sticker can be attached to existing paper documentation, thus converting it into a contactless smart card.

  The Israeli government selected our technology and products for use in a system controlling passage between Israel and areas governed by the Palestinian Authority which will be supplied by Electronic Data Systems.

  Sales of our national documentation product commenced in 2003, and accounted for $1.3 million (or 6%) of our revenues in 2004 and 1% of our revenues in 2003.

  — MediSmart. Our MediSmart product is designed to secure, process and manage medical information by providing doctors and hospital administrators with information regarding the patient’s identity, medical history, insurance coverage and payment history. This information can be automatically updated after each treatment. Treatment information can be automatically transferred to the insurance provider’s computer system. This product reduces costs to medical providers, provides increased security for a patient’s medical history and improve the quality and speed of service to patients. We began field tests of the product in South Africa in 2003 and the product was successfully deployed in June 2004 by CareCross Health, the leading primary heathcare provider in South Africa, and in October 2004 by HARMONIX® – Outpatient Mental health Services in the U.S.

23

Campus Systems.

        Our campus system provides applications such as access control, pre-paid value cards for small purchases, cafeteria access and copy machine payments on a single card. We designed our OTI campus system for use in self-contained or campus environments, including closed communities, senior citizen homes, universities, schools and corporate facilities. Each campus user is provided with a contactless smart card that provides secured access to different areas of the campus, and can include various types of e-purse applications, monitoring of time and attendance at work, vending machine functions, gasoline management and cafeteria operations.

        Our OTI campus system has been in full commercial operation in over 40 kibbutzim in Israel since 1993, more than 20 residential complexes in Hong Kong since 1997, two senior citizen homes in Israel since 1998 and a country club in Israel since 2000. We also have installed a campus system operation at a university in Germany. In January, 2001, we established a relationship with Xerox to market our campus system in the United States. Sales of our campus system accounted for $4.7 million (or 20%) of our revenues in 2004, $6.4 million (or 33%) of our revenues in 2003 and $6.8 million (or 38%) of our revenues in 2002.

        Our previously wholly-owned German subsidiary, InterCard Kartensysteme, also sells and manages campus systems, operated by cards based on a wide array of technologies, including magnetic strips, ASIC-based systems and contact microprocessor-based systems, provided by a number of companies, such as GemPlus and Cards & More GmbH. During 2004, InterCard Kartensysteme’s campus system was used in over 80 universities in Germany under the name UniCard. The primary difference between the OTI campus system and InterCard Kartensysteme’s campus system is that InterCard Kartensysteme’s campus system includes management and clearing software for closed campus environments and is based solely on contact cards.

EXCERPTS ON THIS PAGE:

20-F
May 22, 2006
20-F
Oct 28, 2005
20-F
May 4, 2005

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