Digital Cash

Crunchfish and Swish continue to plan for Digital Cash

2021-06-03|

Crunchfish and Getswish continue to investigate the possibility to enable offline payments with Swish, in spite of today’s announcement from PTS of not receiving funding via the PTS Innovation contest. The ambition remains to provide the Swedish society with a digital equivalent to paying with cash.

Crunchfish’s and Getswish’s submission to the PTS Innovation contest reached the final but was not selected to receive funding from PTS. Crunchfish and Getswish will continue the dialogue to make Swish available in contexts when internet connectivity is not available, or banking services are down.

”Swish is an incredible success story for online payments, however Swish demands that the user is online. We very much believe in the idea of being able to pay offline with Swish as well.”, says Anders Edlund, CPO at Getswish.

”We’re looking forward to build an innovative world-class solution together with Swish, that will create a digital equivalent to paying with cash”, says Joachim Samuelsson, CEO of Crunchfish.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com 

Erik Berggren, IR Manager
+46 726 011 673
erik.berggren@crunchfish.com

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

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Crunchfish partners with ToneTag for offline payments using sound wave interaction

Crunchfish and ToneTag, two pioneers within digital payments, have entered a Marketing & Technical Partnership Agreement to offer Crunchfish’s Digital Cash payments with ToneTag’s patented sound wave-based interactions. By integrating the companies’ innovative technologies offline payment use cases becomes possible, even with feature phones.

Many consumers are unable to pay digitally because of poor internet connectivity as well as lack of payment services on feature phones. ToneTag’s innovative sound-based proximity technology combined with offline payments capability of Crunchfish’s Digital Cash solutions is a cutting-edge solution that can enable a much greater adoption for digital payments in retail, at gas stations and for transit payments. 

ToneTag, a proximity communication company and the largest sound network built a robust channel of data communication to enable extraordinary experiences across businesses. It can enable users to carry out quick and convenient cashless transactions by utilizing the innovative and highly secure sound wave-based technology. The solution does not require either high-speed internet or a smartphone for conducting secure payments; the payment can be completed using any mobile phone, including feature phones used by millions of Indians.

Crunchfish’s Digital Cash is exceptionally flexible, being bearer instrument-, payment scheme-, proximity interaction- and merchant terminal-agnostic. This provides an unprecedented capability to provide offline payments and preserve privacy for any digital payment service. With this agreement Crunchfish continues to add to its Digital Cash Partner program with ToneTag as partner #8. 

“ToneTag is a strategically important Digital Cash Partner with ingenious solutions that will help to facilitate Digital Cash on a wide variety use cases, not least on feature phones which opens up great market opportunities both in India and other countries. We see great potential in this partnership and are looking forward to working with ToneTag”, says Crunchfish Digital Cash’s CEO Patrik Lindeberg.

”ToneTag’s global audio based data communication capability allows digital and voice based checkouts in offline spaces. Combining our unique technology with Crunchfish’s Digital Cash enables seamless payment experiences for customers. Together with Crunchfish, we hope to implement this solution in multiple countries”, says Kumar Abhishek, founder and CEO of ToneTag.

For more information, please contact:
Patrik Lindeberg, CEO Crunchfish Digital Cash AB
+46 730 35 67 15
patrik.lindeberg@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. Crunchfish has 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.


Crunchfish hires Anna Bostam as Chief Marketing Officer

Crunchfish AB (”Crunchfish”) today announces that the company has hired Anna Bostam as its new Chief Marketing Officer. It is extremely important that the company’s technical know-how and communication go hand in hand, and we are now further strengthening our marketing ability. Anna has a solid background within marketing, most recently as CEO of marketing agency The Fanclub and as agency director of communication agency Creuna in Malmö.

With a background in IT and digital marketing, and a solid background as marketing manager and agency director, Anna has brand building and communication skills that reaches through the noise in today’s digital landscape. As the leader of one of Sweden’s most successful brand and communication agencies, Anna has worked with customers and brands in both B2B, B2C and the public sector.

“For a long time, we have built a strong technical know-how in Crunchfish and made fantastic progress in the development of our technology. It is extremely important that the company’s technical know-how and communication go hand in hand, and we are now further strengthening our marketing ability. Therefore, we are very happy to welcome Anna Bostam as our new CMO. Anna is incredibly creative, has a strong communicative ability and has a razor-sharp business sense, qualities that will be very valuable now that we accelerate and go global”, says Joachim Samuelsson, CEO of Crunchfish.

“I am passionate about building strong and genuine brands that not only make occasional communication efforts but that dare to challenge and build from the ground up. I believe in the combination of ‘madness and brilliance’, and Crunchfish challenges and dares to stand out from the crowd, but they also have an enormous know-how and substance in the company. That’s cool for real, and I look forward to taking over the world together with this competent bunch of people”, says Anna Bostam.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish
+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.


Crunchfish hires payment expert Magnus Lageson

Crunchfish AB (”Crunchfish”) today announces that the company has hired payment expert Magnus Lageson. Magnus Lageson has extensive experience from the payment industry and most recently comes from GetSwish AB, the company behind the payment service Swish, where he has worked for many years as Lead Product, Innovation & Partner Manager and played a central role in the development of the service and its success. At Crunchfish, Magnus Lageson will be Chief Product Officer in Crunchfish Digital Cash AB and work with the company’s technical development and commercial rollout.


Magnus Lageson will be the new Chief Product Officer for the company’s operations within Digital Cash. Magnus has more than 20 years of experience from the payment industry and started his career with mobile payments at Ericsson already in the late 1990s. He then went on to work at Bankgirocentralen with real-time settlement systems, then at Nordea with their requirements to build a common payment platform for Nordea but also within a product area around mobile payment. Magnus has since worked as a consultant with many different types of projects, ranging from the replacement of core banking systems to the introduction of GooglePay, SamsungPay and GarminPay as well as strategy assignments around PSD2.

For the past five years, Magnus has been Lead Product, Innovation & Partner Manager at Swish and in this role, he has represented Swish in close dialogue with many different partners and various international collaborations in the ecosystem around the service. In recent years, Magnus has also been deeply involved in the implementation of the new infrastructure for real-time settlement of account-to-account transactions, which will be introduced in Sweden and provided by the Swedish Central Bank.

”We’re extremely happy that Magnus Lageson is coming to Crunchfish. Magnus is one of Sweden’s sharpest minds within payment solutions and he has played a crucial role in the development of Swish to their incredible success. With his extensive experience and large network of contacts, Magnus will be a very strong addition to the Crunchfish team in our roll-out of our solutions for Digital Cash”, says Joachim Samuelsson, Crunchfish CEO.

Crunchfish’s solutions for Digital Cash will be a crucial component in the digitalization of the world’s payment systems and I am very much looking forward to being part of this journey. I live by the motto that it is more important to move forward than to stand still and I look forward to the chance to work according to the ‘KBK’ principle, which I know is highly valued at Crunchfish”, says Magnus Lageson.

Magnus Lageson was interviewed in Crunchfishs second interview season ”Cash goes digital – a payment pandemic” on the theme Real-Time Pirate.

For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish
+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.


Crunchfish strengthens its Digital Cash offer in India for feature phones by partnering with Nextgen Telesolutions

Crunchfish AB (“Crunchfish”) today announces that the company has entered into a Memorandum Of Understanding with Nextgen Telesolutions Pvt Ltd. (“Nextgen Telesolutions”) to explore a joint offering. Nextgen Telesolutions has developed a method for hosting a Secure Element on a SIM overlay and microSD card, enabling a stronger solution for implementation of Digital Cash on feature phones. Half of India’s mobile phone users uses feature phones.

Nextgen Telesolutions is an Indian tech company with secure digital payment solutions for the POS industry and for financial inclusion. The company has developed a method for hosting a Secure Element on either a SIM overlay or a microSD card. By integrating Crunchfish’s Digital Cash with Nextgen’s solutions it becomes possible to achieve a strong implementation of Digital Cash with feature phones, especially in India where half of the country’s one billion mobile phone users has feature phones. Their microSD could also be relevant for Android devices as it brings EMV card hosting and Near-Field Communication (NFC) capabilities to the device. This further strengthens Crunchfish’s Digital Cash as bearer instrument agnostic and available for all kinds of payment apps, which is particularly important for CBDC implementations in its aspiration to be ubiquitous and financially inclusive.

Digital Cash is exceptionally flexible, being bearer instrument-, payment scheme-, proximity interaction- and merchant terminal-agnostic. This provides an unprecedented capability to provide offline payments and preserve privacy for any digital payment service. With this agreement Crunchfish continues to add to its Digital Cash Partner program. Nextgen Telesolutions is Digital Cash Partner #7 to join the program.

”Nextgen Telesolutions will be another strategically important Digital Cash Partner enabling us to reach feature phone users. Their ingenious solution enables a strong and exceptionally flexible opportunity for Digital Cash implementations on feature phones, and we see great potential in this partnership”, says Crunchfish Digital Cash’s CEO Patrik Lindeberg.

”Crunchfish is a really exciting company with innovative and interesting solutions that are very much in tune with the rapid development of the financial system in India. We see a great potential in the combination of our Secure Element technology with Crunchfish’s Digital Cash solutions, especially in the Indian market, enabling offline digital cash transactions for the masses”says Nextgen Telesolutions’ CEO Taron Mohan.

About Nextgen Telesolutions – nextgentele.in
Nextgen Telesolutions develops solutions around payments and retailing, integrating mobile technology as a technology platform to enable a cross integration between the two. NextGen is working actively on areas of:

  • – Digitizing and bridging the technology gap in secure banking and wallets.
  • – Enabling secure contactless payments on any mobile device for customers as well as merchants
  • – Integrating banking, wallets, money transfers, bill and utility payments, pre-paid topup services and mPOS terminals into a unified offering.


For more information, please contact:
Patrik Lindeberg, CEO Crunchfish Digital Cash AB
+46 730 35 67 15
patrik.lindeberg@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.