On Track Innovations Ltd. has introduced a modular device it describes as a three-in-one payment solution.

The device supports multiple payment options in unattended settings, such as vending machines, self-service laundry stores and car washes, the Israeli vendor says in a June 3 press release.

The reader accepts magnetic-stripe cards, contactless payments and EMV-chip cards. The device's modular design lets merchants "easily add on additional modules such as the EMV reader in just minutes per machine, when the time is right," says Ofer Tziperman, oti’s chief executive, in the release.

Configurations may consist of magnetic stripe or contactless only, or both, EMV contact only, or EMV contact and contactless, or a three-in-one option, which can be further expanded with additional modules. The device is based on oti's Saturn 6500 reader.

Oti currently works with self-service technology providers in the United States, Canada and Europe, where it recently signed a 20-year contract in Albania to support parking payments. It is already deploying its trio readers for various businesses, Tziperman says.

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