Fast Digital Cash integration by Indian Financial Platform Provider
A recently announced financial platform provider in India has finished integration of Digital Cash in their apps in a short time. The financial platform provider has almost 100 existing integrations with Indian banks already. Crunchfish Digital Cash roll-out is expected to accelerate with this turnkey offline payment solution.
Crunchfish and a financial platform provider in India entered into a partnership in late November where Crunchfish has delivered Digital Cash SDK for integration into the provider’s financial platform to create a turnkey solution for offline payments. The initial focus has been on proximity payment and they have already successfully integrated Crunchfish Digital Cash in their apps. The next step in the integration project is to link their front-end apps to their own financial platform in the backend, instead of using the sandbox provided by Crunchfish.
This financial platform provider has almost 100 integrations with banks in India for various online payment use cases with the same Reserve, Pay and Settle methodology as promoted by Crunchfish. This integration adds offline payment as a use case. It will accelerate Digital Cash onboarding of banks or payment service as the financial platform is already integrated with many Core Banking Systems and this integration may be re-used by banks and payment services.
“We are very impressed by the fast integration done by this Indian financial platform provider. The next step is not more challenging as they will link their apps with Crunchfish Digital Cash inside to their own financial platform. This partnership provides access to many new banking prospects and will accelerate our Digital Cash roll-out in India”, says Joachim Samuelsson, Crunchfish CEO.
As previously stated, this financial platform integration is separate from the previously announced Digital Cash integration for offline payments with HDFC Bank in RBI regulatory sandbox in India where the pilot has recently started.
For more information, please contact:
Joachim Samuelsson, CEO of Crunchfish AB
+46 708 46 47 88
joachim.samuelsson@crunchfish.com
This information was provided by the contact person above for publication on 27 December 2022 at 08:30 CET.
Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.
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 subsidiary in India.
