Crunchfish enables Digital Cash payments person-to-person offline
Crunchfish Digital Cash Wallet xoxo may be credited offline by clearing a Digital Cash payment from another person’s Digital Cash Wallet or topped-up by an online interaction with its corresponding Digital Cash Account. The Digital Cash payment architecture allows merchants to have thin applications that credits the merchant’s bank account following an offline clearing.
Crunchfish Digital Cash Wallet xoxo may be embedded with any payment service, either on a mobile or a card, making the payment services robust by offline payments independent from the net. The Digital Cash payment system relies on the ability of securely holding and managing balances in Digital Cash Wallets.
The balance of the Digital Cash Wallet may be topped-up by depositing more money in the corresponding Digital Cash Account. The Digital Cash Account is blocked to guarantee that Digital Cash payments may be settled successfully against this account.
The Digital Cash balance may also be credited by clearing an offline Digital Cash payment from another person’s Digital Cash Wallet. This person-to-person payment scenario is especially interesting in CBDC implementations, where people should be able to exchange digital cash between each other swimmingly easy.
Payments to merchants are credited to the merchant’s bank account after offline clearing and subsequent online settlement. The Digital Cash payment architecture only requires a thin application running on the merchant’s terminal.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@crunchfish.com
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
About Crunchfish – crunchfish.com/digitalcash
Crunchfish is a technical pioneer within digital payments with its ground-breaking Digital Cash Wallet using a two-step payment process, first clearing offline followed by online settlement, which makes digital payments robust and independent from the net. Crunchfish Digital Cash Wallet is extremely flexible and may be used with all types of payment services. It is interoperable cross-service/schemes and cross-borders/currencies. It truly delivers the properties of cash, such as instant clearing, offline payments and preserving the payer’s integrity, without requiring any changes to the central or commercial banking infrastructure. This enables CBDC to be rolled out fast in any country.
We have also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and have a patent-pending solution to reduce food waste. Crunchfish also develops gesture control of smart AR glasses for the consumer market.
Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.
