Crunchfish announces the architecture of Digital Cash Wallets
STOCKHOLM, 20 December 2021 / PRNewswire / – Crunchfish Digital Cash AB (“Crunchfish”) announces patent pending digital money wallet architecture. In addition to Crunchfish’s original offline digital wallet, integrated into a mobile app, architecture ranging from core banking systems to online or offline digital wallets, in mobile apps or on non-mobile devices is presented. This lays the foundation for Crunchfish’s ambition to achieve a global leadership position in digital payments. Digital wallets online and in mobile apps are already ready to ship.
Extremely popular payment services like Swish in Sweden and UPI in India are both very vulnerable as all primary payment servers as well as the payer’s internet connection must be operational. This online Digital Cash Wallet relaxes these conditions by ensuring the availability of payments despite service interruptions or server congestion, as well as load balancing of the Core Banking System. Other features such as interoperability, privacy, inclusiveness and flexibility with regards to form factor, mobile operating system and proximity interaction are also offered by digital money wallets. payment services.
The recent announcement Online digital money wallet has been very well received in the market, especially by banks and instant payment services facing the above challenges. We are happy to announce that it is already ready to ship as an integrated wallet that integrates architecturally between the Core Banking System and the Patented digital ticket wallets in mobile apps.
“This Digital Cash Wallets architecture forms the very basis of Crunchfish’s ambition to take a position as a world leader in digital payments”,said Joachim samuelsson, CEO of Crunchfish.
We are also announcing an additional layer of wearables and smart cards to the Digital Cash Wallets architecture. Charging and paying in stores using these digital money wallets is done by tapping a mobile device to interact with a digital money wallet in a mobile app. A patent application pending allows this interaction to occur completely offline. The development of digital ticket wallets in non-mobile devices will begin in 2022.
Crunchfish digital wallets are all integrated into a modular architecture. An account reservation in the Core Banking System provides a balance in the online Digital Cash Wallet, which in turn can be distributed to one or more Digital Cash Wallets in the mobile applications. This balance can then be distributed to one or more digital wallets in a non-mobile device. This provides the global payments market with a complete architecture that works online as well as offline, on all kinds of bearer devices and on all kinds of payment schemes such as Instant, CBDC, Card as well as Crypto.
For more information please contact:
Joachim samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
Erik Berggren, Head of IR
+46 726 01 16 73
This information is information that Crunchfish AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information has been provided by the above contact person for publication on 20 December 2021 at 00:01 CET.
Västra Hamnen Corporate Finance AB is the authorized advisor. Email: [email protected] Telephone +46 40 200 250.
This information was brought to you by Cision http://news.cision.com
The following files are available for download: