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oti Named Finalist for a 2014 PYMNTS Innovator Award

On Track Innovations Ltd. (oti) (NASDAQ:OTIV), a global provider of near field communication (NFC) and cashless payment solutions, has been named a finalist for the 2014 PYMNTS Innovator Award in the category of ‘Best Comeback Story.’

“We’re honored to be considered for this prestigious industry award and be recognized for our company’s product development and enhancements over the last year,” said Ofer Tziperman, CEO of oti. “2013 marked a pivotal year for oti, with our new board of directors and executive team refocusing the company on its core NFC-based payment technology that sets it apart from the competition.”

“As a result, we’ve enjoyed accelerating sales momentum, with the industry adopting our technology as the 'de facto standard,'” continued Tziperman. “With the global marketplace at a tipping point in the transition to cashless payments, we will continue to leverage our patented technology and worldwide presence to capitalize on this multi-billion dollar revolution.”

Winners of 2014 PYMNTS Innovator Award will be announced on March 20, 2014 during a live ceremony following the conclusion of The Innovation Project 2014, a two-day program hosted by PYMNTS.com that highlights the rapidly changing payments and commerce ecosystem.

The Innovation Project 2014 will be held on March 19-20 at Annenberg Hall on the campus of Harvard University, with the theme: “Rethink. Reset. Reinvent.” The conference will address a variety of topics, including the reinvention of retail, commerce, the consumer experience, security, digital cash and global commerce.

Now in its third year, the PYMNTS Innovator Awards have garnered an exponential increase in industry participants. According to Karen Webster, president of PYMNTS.com: “The PYMNTS Innovator Awards are one of the most inspiring aspects of The Innovation Project. It puts innovation front and center and serves as a very visible reminder of the creative spirit and energy that will drive our massively dynamic payments and commerce ecosystem forward.”

This year’s PYMNTS Innovator Award judges include:

Janet Estep, NACHA

David Evans, Global Economics Group

Matt Harris, Bain Capital Ventures

Karl Mehta, Menlo Ventures

Hans Morris, General Atlantic

Paul Purcell, Continental Advisors

Dan Rosen, Commerce Ventures

Karen Webster, Market Platform Dynamics and PYMNTS.com

Matt Witheiler, Flybridge Capital Partners

To vote in the competition click here. Voting will remain open through Thursday, February 27 at 12 p.m. Eastern time.

For more information on oti and its NFC and cashless payment solutions, visit www.otiglobal.com

About PYMNTS.com

PYMNTS.com is reinventing the way in which companies in payments share relevant information about the initiatives that shape the future of commerce and make news. This powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about “what’s next” in payments. C-suite and VP level executives read it daily for these insights, making the PYMNTS.com audience the most valuable in the industry. It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. It’s where the best minds and best content meet on the web.

While being held on the campus of Harvard University, the Innovation Project and PYMNTS.com are not affiliated with Harvard University, nor is the Innovation Project 2014 a Harvard University program or activity.

About oti

On Track Innovations Ltd. (oti) is a leader in contactless and NFC applications based on its extensive patent and IP portfolio. oti's field-proven innovations have been deployed around the world to address NFC and other cashless payment solutions, petroleum payment and management, cashless parking fee collection systems and mass transit ticketing. oti markets and supports its solutions through a global network of regional offices and alliances. For more information, visit www.otiglobal.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Because such statements deal with future events and are based on oti's current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of oti could differ materially from those described in or implied by the statements in this press release. For example, forward-looking statements include statements regarding receipt of future consideration from the sale of oti's SmartID Division, oti's long-term growth and profitability, further penetration of the NFC markets and execution of oti's growth plans. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in oti's annual report on Form 20-F for the year ended December 31, 2012 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, OTI disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise.

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