CASH GOES
DIGITAL
Cash is king of payments. It always works, it’s easy to handle and it safeguards personal privacy. Crunchfish preserves these features when cash goes digital. Payments with Digital Cash work even when offline; regardless of connection issues, infrastructure failures or overloaded servers. Crunchfish Digital Cash ensures 100% payment availability.
Why are we dependent on the net when we pay?
It is very convenient to pay digitally. The pandemic drove digitalization as many people do not want to touch cash anymore. But societies become vulnerable without cash, making us dependent on internet access and cloud based payments services.. This is an unnecessary risk to take.
The time-critical moment-of-payment should be implemented separated from the subsequent transfer of money between accounts. Digital Cash works 24/7, is easy to use and the transaction may be private.
Offline Payment Demo
Digital Cash secures 100% payment availability
Mobile payments increases globally, and Europe might be cashless in a few years. That would mean the disappearance of the only means of payment that always works. Crunchfish Digital Cash secures 100% payment availability, by enabling digital payments to be made even without online connection
Crunchfish Digital Cash is a flexible and interoperable solution that compliments any payment service, with capabilities that replicate paying with physical cash. A two-step hierarchical architecture makes Digital Cash payments independent from the net, offering instant payments fully offline, followed by settlement online to move money between accounts.
The Digital Cash Solution consists of three main components – Digital Cash Wallet, Digital Cash Verifier and Digital Cash Account.
Digital Cash payments are debited against a balance maintained by the Digital Cash Wallet. It functions like a tollgate securing that sufficient balance is available and that issuer rules are fulfilled, before a cryptographically signed Digital Cash offline payment is generated. The payments are assigned and transferred to the payee in offline mode, using proximity interaction (e.g QR, Ultrasound or BLE) The payee verifies the Digital Cash offline payment with the Digital Cash Verifier.
The Digital Cash Wallet has a mirrored Digital Cash Account which is used for settlement online, when either the payer or the payee connects online, independently of each other. The Digital Cash Account may only be debited from the Digital Cash Wallet, protecting against double spending and overdrafts but also other threats like tampering and unauthorized access. It logs all activity in the Digital Cash Wallet.
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“People should be able pay privately and offline, just like using cash. The settlement to move money between accounts is a subsequent separate step. Cash goes digital.”
Joachim Samuelsson
CEO
Payment schemes
Real-time payments
The Digital Cash Wallet may be integrated in any real-time payment system, including closed loop wallet, three-party schemes as Swedish mobile payment service Swish or a four-party model used by UPI in India.
EMV card rail
Digital Cash Wallets may be used for smart cards or digital wallets in push or pull transactions on the EMV card rail using either HCE or OEM pay.
PCI certification would either be done by the bank/payment service or provided with the card rail component.
Central Bank Digital Currency
Crunchfish’s Digital Cash Wallet makes it swimmingly easy to implement CBDC, as there is no need for additional infrastructure. CBDC should be implemented as a new currency rather than a cryptocurrency.
It is then possible to use existing digital payment rails to distribute CBDC, requiring no infrastructure investment for the Central Bank or commercial banks. This is a tremendous simplification that will accelerate CBDC roll-outs in the world.
Digital Cash Partners
By cooperating with partners within complementing fields of technology we have created an ecosystem for Digital Cash with a global reach.
#1 – V-Key
developing V-OS, the world’s first virtual Secure Element for Payment Apps.
#2 – neoEYED
working within the field of security through Behavioral Biometrics in Payment Apps.
#3 – eCurrency
providing CBDC digital currency security systems for Central Banks.
#4 – DigitSecure
delivering a PCI-certified, international card networks compliant, SoftPOS for Merchant Terminals.
#5 – Taisys Technologies
delivering Thin SIM technology enabling Digital Cash on feature phone’s Payment Apps.
#7 – Nextgen Telesolutions
enabling stronger solutions for Digital Cash on feature phones with Secure Element hosting on SIM overlays and microSD cards.
#8 – ToneTag
Enabling users to carry out quick and convenient cashless transactions by utilizing an innovative and highly secure sound wave-based technology
Proximity interaction
Blippit – Swimmingly easy payments
Merchants worldwide are experiencing a huge increase in demand for contactless mobile payment solutions. Blippit is the world’s first app terminal that links payment apps to POS terminals.
It enables customers to checkout with a single blip and merchants to identify customers before payment. Blippit is intuitive, responsive and the blip works the exactly same way across all mobile devices.
Nearby – Discover and connect
Crunchfish provides superpowers to people by digitizing the proximity. Contextual and dynamic awareness of what is present, here and now. We also enable mobile users to connect to anyone or anything nearby.
Crunchfish’s nearby solutions are based on Bluetooth, either using beacons or local BLE connections, enabling mobile users to discover and connect with the proximity. We enable a digital handshakes between two mobile devices or make it possible to discover people even when their mobiles are in lock screen.
Patents
Protected areas
Digital Cash
Blippit
Nearby
Priority from 2014.
