Crunchfish partner with Wibmo, a PayU company and an industry leader in payment security and digital payments, to add offline payments to their Digital Banking platform. Wibmo is a global full-stack PayTech company, an industry leader in payment security and digital payments in emerging markets, partnering with 160+ banks & fintechs across 30+ countries.

Crunchfish and Wibmo have entered a partnership for integration of Digital Cash into Wibmo’s Digital Banking platform. With Digital Cash integration, Wibmo’s customers will be able to process offline payments – payers will not have to worry whether they have mobile internet data connectivity or not. Payments will work regardless of whether there is connectivity at customer’s end or at merchant’s end. Moreover, offline payments will be available as a modular, plug and play module within Wibmo’s Digital Banking platform.

“The integration with Crunchfish will enable our customers to offer digital payments to the financially excluded and the underserved population. This will truly help people reap the benefits of the digital economy. Crunchfish are an innovator and leader in offline payments and this partnership will further enhance our Digital Banking platform capabilities to support Offline Payments”, says Suresh Rajagopalan, CEO Wibmo.

“Partnering with Wibmo is a strategic step to accelerate global adoption of Crunchfish Digital Cash. Wibmo have impressive and proven technology, serving more than 160 Banks and Fintechs in 30+ countries, to which offline payments can now be offered as well. This strengthens also the CBDC offering of both parties”, says Joachim Samuelsson, CEO Crunchfish.

About Wibmo
Wibmo Inc., a Cupertino, California company, is a subsidiary of PayU. It is a global full-stack PayTech company, an industry leader in payment security and digital payments in emerging markets, partnering with 160+ banks & fintechs across 30+ countries. The company is the largest authentication service provider in India, one of the world's leading digital payments markets. It also offers fraud and risk management solutions, mobile payments, prepaid solutions, and a host of merchant acquiring services. Learn more about Wibmo: https://www.wibmo.co/

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

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication 17 January 2023 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 are 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 are listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish in partnership with Lipis Advisors announce today a new whitepaper series coupled by webinars in a series on the theme “Enabling offline payments in an online world”. The first whitepaper by Lipis Advisors, due out on January 19th, 2023, and the webinar following on January 20th, 2023 will focus on “A practical guide for offline payment design”.

The interest in offline solutions from central banks, commercial banks and payment system providers have skyrocketed in recent years. Crunchfish in partnership with Lipis Advisors are proud to announce a new whitepaper and webinar series on the theme “Enabling offline payments in an online world” with the purpose of helping central banks, commercial banks and payment service providers understand the many practical aspects and how to implement offline payment solutions.

The video trailer to the whitepaper and webinar series is available here

The first whitepaper focused on practical offline payment design, which will be released on January 19th, 2023, and the subsequent webinar discussing the whitepaper is arranged on January 20th, 2023 at 08.00 CET / 12.30 IST. The webinars will be live streamed on zoom and LinkedIn and recorded and will start with a short presentation of the whitepaper, followed by moderated Q&A with a panel and the audience.

Register for the premiere webinar – A practical guide to offline payments design – following this link

After registering, you will receive a confirmation email containing information about joining the webinar.

All webinars will be available on our website, our YouTube channel and as podcasts on Spotify, Apple Podcasts and anywhere where podcasts are available, distributed from our SoundCloud channel. You can subscribe and never miss when we publish new episodes.

About Lipis Advisors
Lipis Advisors is a Berlin-based strategic consulting firm focused exclusively on the payments sector. Our expertise has expanded over the years, evolving from research driven comparative analysis of core payment systems to strategic advice for diverse stakeholders on topics ranging from cryptocurrencies, CBDCs, digital banking, real-time payments, fraud mitigation, payment design and implementation. We have provided consulting services to clients in 40+ countries around the world, including international organizations, financial institutions, payment service providers, fintechs, payment schemes, payment system operators, technology vendors, industry associations, and regulators.

For more information, please contact:

Joachim Samuelsson, CEO of Crunchfish AB

+46 708 46 47 88

joachim.samuelsson@crunchfish.com 

Västra Hamnen Corporate Finance AB is the Certified Adviser. Email: ca@vhcorp.se. Telephone +46 40 200 250.

About Crunchfish – crunchfish.com

Crunchfish are a deep tech company developing a Digital Cash platform for Banks, Payment Services and CBDC implementations and Gesture Interaction technology for AR/VR, automotive and digital interfaces. Crunchfish are listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with a subsidiary in India.

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Crunchfish Digital Cash AB (“Crunchfish”) has received an International Preliminary Report on Patentability (IPRP) in Chapter II of the Patent Cooperation Treaty (PCT) for a key Digital Cash patent application PCT/SE2022/050152 indicating that all claims 1 – 39 are deemed patentable. The main claim of this patent has very broad applicability as it protects many aspects of non-native layer-2 offline payment solutions in addition to its focus on domestic and international interoperability between CBDC-, Real Time Payment- and Closed Loop Wallet- payment service applications.

The innovation titled “Payment service provider interoperability in digital payments” in the attached PCT-application relies on payment system applications using a shared root certificate for domestic and international interoperability for offline proximity payments. It covers also cross-border payments by managing exchange rates offline.

The patent protects how CBDC-Retail applications issued by the central bank may become interoperable with other payment service applications in the same country as well as how CBDC-Retail applications from multiple countries, multi-CBDC or mCBDC, can interoperate. It also covers interoperability between Closed-Loop Wallets and Real Time Payments applications domestically as well as internationally.   

Furthermore, the main claim of this patent is broadly defined protecting many aspects of non-native layer-2 offline payment solutions in general, in addition to its focus on interoperability. This makes this Digital Cash patent a key strategic asset for Crunchfish which we are likely to nationalize in many countries world-wide during the nationalization phase within 6 months.

”Some patents are commercially more valuable than others. This is arguably our most important Digital Cash innovation as it protects many key aspects of the Digital Cash messages with its non-native layer-2 tokens. It is the very essence of Crunchfish Digital Cash and puts Crunchfish in an enviable protected position in the area of offline payments”, says Joachim Samuelsson, CEO Crunchfish AB.

The patent has priority from a provisional patent application filed in February 2021. This clean IPRP report of this key Digital Cash innovation follows the announcement of this innovation being granted a patent in Sweden with number SE 544277 in December 2021. The next step is to enter the phase of national phase before August 2023 when Crunchfish must decide which markets to protect this important intellectual property. A patent if granted is valid until February 2041, 20 years from the original filing date.

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

This information is Crunchfish AB obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person above for publication on 12 January 2023 at 08:00 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 a subsidiary in India.

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To increase the understanding among investors for Crunchfish and our value proposition, and connect with new investors, Crunchfish has signed an agreement with Emergers for their Commissioned Research and Corporate Broking service. Crunchfish will continue with offering commissioned research from Västra Hamnen Corporate Finance in parallel.

Emergers’ Commissioned Research service comprises equity research coverage, video interviews, graphic quicktakes and other material to communicate Crunchfish’s equity story to existing and new investors in an accessible way. Emergers’ Corporate Broking service aims to actively increase attention on Crunchfish equity story from investors of all levels. Emergers plans to initiate coverage on Crunchfish during January 2023. Since inception in 2020, Emergers have helped over 30 Small Caps across Nasdaq First North Stockholm, Nasdaq First North Helsinki, Spotlight and Nordic SME to connect with new investors.

Crunchfish have provided its investors with commission research from Västra Hamnen Corporate Finance since May 2019. Their equity research reports are available here at Crunchfish website as well as on Västra Hamnen’s Corporate Finance website. Crunchfish intend to continue with offering their equity research as well in parallel.

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 28 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.

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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.

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Crunchfish together with HDFC Bank and one additional Indian bank are ready to start the pilot for Offline Retail Payments. The pilot will host real users and real money, supervised by the Reserve Bank of India.

Crunchfish in partnership with HDFC Bank and one additional Indian bank have been working together to develop a solution for Offline Retail Payments that will be demonstrated in a pilot to Reserve Bank of India (RBI) in their Regulatory Sandbox program*. The project, if successful, will provide the basis for RBI’s guidance and regulatory support in providing Offline Retail Payments, based on Crunchfish Digital Cash platform, to the payment ecosystem of India.

Development and quality assurance of the Offline Retail Payments have now been finalized. As part of the quality assurance a security audit, including penetration tests, is being conducted by an external security firm in India. First phase of the pilot will onboard users in a small-scale test during Christmas, followed by an extended rollout of the pilot in January. The pilot is scheduled to run for a period of four months, followed by a one-month evaluation by RBI.  

“We are eager to start this pilot with RBI and our two partnering banks. The pilot will host real consumers and merchants, using real money under the supervision by RBI. It will be a great chance for us to show the value of    Digital Cash in an Indian user environment. I’m also very pleased that the Digital Cash product has passed the extensive security review with only minor remarks. It proves the quality and trustworthiness of our product and adds to credibility in our discussions with other Central Banks, commercial banks and payments services around the world.", says Joachim Samuelsson, Crunchfish’s CEO.

Crunchfish and HDFC Bank have started discussions around licensing of Crunchfish Digital Cash. The commercial proposal under discussion with the bank will form an integral part of the licensing arrangement.

*The Regulatory Sandbox was established in 2020 by the Reserve Bank of India (RBI) to foster responsible innovation in financial services, promote efficiency and bring benefit to end users. The Regulatory Sandbox is a formal regulatory program for market participants to test new products and services with customers in a live environment, subject to certain safeguards and oversight. It allows the regulator, innovators, financial service providers and end users to conduct field tests to collect evidence on the benefits of new financial innovations, while carefully monitoring and containing their risks. To be approved access to the Regulatory Sandbox, the proposed financial service shall include new or emerging technology, or use of existing technology in an innovative way and should address a problem and bring benefits to consumers.

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

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 a subsidiary in India.

Appendix

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