Crunchfish Digital Cash integrated with Mojaloop payment platform for financial inclusion
Crunchfish has completed an integration of Digital Cash with the Mojaloop payment platform. Financial service providers will now be able to offer its users the ability to perform payments with Mojaloop even when offline. Mojaloop fits very well with Crunchfish’s ambition to expand its presence outside India and to increase financial inclusion across the globe.
Mojaloop Foundation is a charitable nonprofit and maintains its free, open-source software Mojaloop and the surrounding community as a public goods in service of financial inclusion. Mojaloop serves as a reference model for creating interoperable payments platforms connecting all digital financial providers and customers, especially the financially excluded. With an initial focus in Africa, the foundation is expanding its engagement where there is the greatest opportunity to directly affect financial inclusion through interoperable payments, looking to address the critical challenges faced by underserved communities.
By adding offline payment capabilities through Digital Cash, these underserved communities will no longer be dependent on telecom and internet infrastructure to be able to perform mobile payments, which further strengthens Mojaloop Foundation’s mission to increase financial inclusion. Crunchfish will work together with the Mojaloop Foundation to engage with digital financial service providers, regulators, non-governmental organizations and governmental offices, including CBDC initiatives.
Mojaloop was designed by a team of leading tech and fintech companies: Coil, Crosslake Technologies, Dwolla, ModusBox, Ripple, and Software Group with support and funding from the Bill & Melinda Gates Foundation.
A demo movie showing the Crunchfish Digital Cash showcase app integrated with Mojaloop is available at this link.
“We are very proud to now be part of the Mojaloop community. Digital Cash is a great step towards financial inclusion as it enables users to pay with a mobile phone, even when there is lack of telecom and internet infrastructure. The Mojaloop Foundation focuses on the same markets as we see great interest in for Digital Cash, which forms a perfect base for our collaboration.", says Joachim Samuelsson, Crunchfish’s CEO.
For more information:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
The information was submitted for publication, through the agency of the contact person set out above, at 11:30 CET on October 30th, 2023.
About the Mojaloop Foundation – https://mojaloop.io/
The Mojaloop Foundation’s mission is to increase financial inclusion by empowering organizations creating interoperable payment systems to enable digital financial services for all. To achieve its mission, Mojaloop Foundation operates as a 501(c)(3) charitable nonprofit organization, maintaining its free, open source software, Mojaloop, and community as public goods in the service of financial inclusion. Merchants, banks, providers, government offices and other entities looking to build inclusive payments platforms can use Mojaloop – whole, adapted or as a real-time payments reference model.
About Crunchfish – crunchfish.com
Crunchfish is a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR and automotive industry. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.