CASH GOES

DIGITAL

Cash is king of digital payments. It always works, it’s easy to handle and it safeguards personal privacy. Crunchfish preserves these features when cash goes digital. The transformation will be profound as digital cash will be present in all mobile wallets in the future.

Why are we dependent on the net when we pay?

It is very convenient to pay digitally. The pandemic drives 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 are always operational. 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. With this simple and ingenious idea all risks magically go away. Digital Cash really works 24/7, are easy to use and the transaction may be private.

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“Customers should be able pay privately and settle offline, just like using cash, and then settle online on their preferred payment scheme as a separate step. Cash goes digital.”

Joachim Samuelsson
CEO

FULL INTERVIEW ON CASH GOES DIGITAL

Digital Cash Solutions

Crunchfish’s patent pending Digital Cash Solutions are built on two-tier offline vs. online settlement architecture.

The heart of the solution is an Offline Wallet that may either use the Secure Element provided by the mobile OS or run as a Trusted Applications in V-OS virtual secure element.

The Offline Wallet securely maintains an offline balance that is utilised for offline transactions. The transactions are cryptographically signed by the payer, assigned to the payee and guaranteed as they are debited against the offline balance.

The payee verifies the Guaranteed Offline Payments (GOP) in an application running on a mobile, card terminal or PC.

Transaction logs are settled when either party goes online.

The solutions are exceptionally configurable with any type of digital payment settlement rail, e.g. EMV, instant payment, CBDC or closed-loop wallet. The offline balance may be facilitated by sub-wallet, pre-authorization, or credit.

The offline transaction may use any type of proximity interaction, e.g. QR, NFC, BLE or ultrasound and the merchant may use any type of device to verify the Guaranteed Offline Payments in an offline mode. This provides an unprecedented flexibility to provide offline payments for any digital payment service.

Digital Cash

Digital Cash are always transferred immediately since it is independent of anything that can go wrong online. Our vision is that we will continue to pay with cash, but in digital form.

SOLUTION PAPER

Payment schemes

Real-time payments

Digital Cash may be integrated in any type of real-time payment system, including closed loop wallet, three-party schemes as Swedish mobile payment service Swish is using or a four-party model used by UPI in India.

EMV card rail

Digital Cash may be used for 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.

CBDC – Central Bank Digital Currency

Digital Cash provides privacy and the ability to settle offline in any Central Bank Digital Currency scheme.

Digital Cash Partners

By cooperating with partners within complementing fields of technology, Crunchfish opens up marketing channels, new geographical markets and strategic customer segments. We have defined an ecosystem for Digital Cash with the purpose to quickly scale up sales and get a global spread of the company’s solutions.

Interviews with Digital Cash Partners