Digital Cash

Crunchfish’s initial PCT patent application for Digital Cash published

2021-08-05|

Crunchfish AB’s initial PCT patent application for Digital Cash has been published today, 18 months after the local filing date. Crunchfish has analysed the International search report and will modify its patent claims before demanding an International Preliminary Examination with the aim of getting an International Preliminary Report on Patentability.

Patent applications become public 18 month after the initial local filing date, unless they are abandoned. Today, the application PCT/SE2020/051251 and International Search Report of Crunchfish initial Digital Cash application was published by the World Intellectual Property Organization.

Crunchfish has analysed the search report and intend to move forward with an amended application as the basis for the International Preliminary Examination that must be filed before November 29th, 2021, in order to get an International Preliminary Report on Patentability before May 29th, 2022.

As expected in a hot area as payments, prior art exist as the International Search Report indicates. We have identified how to modify our application in order to aim at a favourable report on patentability and a strong IP-protection of our Digital Cash solution”, comments Crunchfish CEO Joachim Samuelsson. 

A PCT application does not lead to a patent, rather to an international search and a written opinion regarding patentability (novelty, inventive step and industrial applicability). In the national phase which starts 30 months after the initial filing date, each country applies its own patent law in the final examination.

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

Erik Berggren, IR Manager
+46 726 01 16 73

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 Digital Cash integrated with V-OS Virtual Secure Element

2021-07-02|

Crunchfish AB (“Crunchfish”) announces today that the Digital Cash solution has been refined and is ready for shipment with V-OS Virtual Secure Element. V-OS is a trusted execution environment where Digital Cash is securely stored, and Digital Cash processes can be executed in isolation from the unsafe environment of the mobile app.

Worldwide we have made us dependent on the net. Digital payments are no exception, and demand reliable online systems. At the moment of payment, there is a risk that the payment is denied due to no network connectivity, infrastructure failure or overloaded bank servers. With Crunchfish Digital Cash the payment is made locally on the smartphone, completely offline and irrevocably, providing 100% payment performance.

Crunchfish Digital Cash Wallet has now been integrated and is ready for shipping with V-OS Virtual Secure Element. This means that the Digital Cash Wallet is a packaged solution with a secure component that creates a trusted execution environment where data is securely stored, and where processes can be executed in isolation from the unsafe environment of the mobile app.

The Digital Cash Wallet maintains a credit balance as well as a log of all offline transactions. As this is sensitive data it must be maintained with banking grade security. This is accomplished by a secure element within the app that handles cryptographic keys, verification of user credentials, authentication of transactions, and maintenance of digital cash credit balance and transaction log.

Crunchfish and V-Key entered a Marketing & Technical Partnership Agreement in July 2020. V-Key is the inventor of internationally patented V-OS, the world’s first Virtual Secure Element, which recently obtained Common Criteria EAL3+ on both Apple iOS and Google Android mobile phones.

This is a milestone in the development of Digital Cash. Our Digital Cash makes digital payments available offline and ensure 100% payment performance. With V-OS integrated, we now have a packaged solution ready for shipping”, says Paul Cronholm, CTO 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 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.