On Track Innovations Ltd. (NASDAQ: OTIV) and Net Element Inc. (NASDAQ: NETE) won out big in the aftermath of the Apple Inc. (NASDAQ: AAPL) event Tuesday. Specifically, the news of Apple Pay on the horizon brought these two mobile payments companies huge unexpected gains. The question is whether these should be up on direct or indirect benefits.

On Track Innovations specializes in near field communications (NFC) and cashless payment solutions. Apple released its iPhone 6 with both NFC and cashless payment as features. On Track announced Wednesday that it would have add-ons to the older generation Apple devices to make them compatible with this NFC technology. Apple’s earlier iPhones and iPads will specifically need the oti WAVE audio-jack plug-in device to turn them into NFC-enabled payment devices.

On Track’s CEO, Ofer Tziperman had this to say about WAVE and the launch:

With the launch of Apple’s iPhone 6, the 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.

Net Element is a global technology-driven group that works in mobile payments and value-added transactional services. Apple’s announcement of a mobile wallet plays into Net Element’s field of expertise and ultimately has helped to drive the stock up 147% to a high not seen since the beginning of 2014.

Since the announcement made by Apple, On Track’s stock has risen as high as $5.00 on Wednesday, from the low of $2.84 on the day before marking a 76% increase. Net Element’s shares have risen as high as $4.75 on Wednesday, up 186% from the low of $1.66 on the previous day.

READ ALSO: What iPhone 6 Features That Were Expected Did Not Come

Net Element has recently been trading at $4.22 and has a 52-week trading range of $0.88 to $5.90. It does not have a consensus analyst target price, with a market cap of just over $150 million.

On Track has recently been trading at $4.15 and has a consensus price target at $3.50. The 52-week trading range is $1.48 to $5.00, with a $135 million or so market cap.

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