Thursday, July 30, 2009

PassTime Launches New Vehicle Tracking Product

Littleton, Colorado-based PassTime, a provider of hardware devices used by auto finance firms to disable vehicles in the case of payment defaults, has launched a new wireless device for vehicle tracking along with cellular module firm Cinterion Wireless. Cinterion said it is powering PassTime's new PassTime Elite II, which provides payment reminders and vehicle tracking for the finance industry. PassTime's products are used to reduce loss of property and to reduce risks of loan defaults, particularly for subprime auto loans. Cinterion develops M2M (machine-to-machine) communications modules.