Crunchfish was a finalist for its innovation Digital Cash on non-mobile devices, in the global hackathon “HARBINGER 2021 – Innovation for Transformation”, organized by RBI, the Reserve Bank of India. The overall objective of the hackathon was to identify and enable innovations with the potential to transform the digital payments landscape. Crunchfish participated for the problem statement – Non Mobile Digital Payment Solutions.

Reserve Bank of India (RBI) organized its first global hackathon – “HARBINGER 2021 – Innovation for

Transformation” with four problem statements to shape the future of the payment systems in India.

• Non-mobile digital payment solutions
• Alternate authentication mechanism for digital payments
• Context based retail payments solution
• Social Media Analysis tool

Crunchfish was invited as one of 25 finalists from 363 entries to present and demonstrate their submitted solutions for an RBI jury in Bengaluru on May 26th-27th. The objective of RBI’s maiden hackathon was to identify and enable solutions that have potential to make digital payments accessible to the under-privileged, enhancing the ease of payments, enriching the experience of the users, while strengthening the security of digital payments and protecting the consumers.

Crunchfish Digital Cash on non-mobile devices, such as smart cards and wearables, enables contactless payments for the mass-reach era of digital payments, even in offline mode. It will be beneficial for swift and easy-to-use payments, in a multitude of use case scenarios, for convenience stores, transit and toll. It will also enable financial inclusion of the non-privileged, children, and elderly that may not be able to use mobiles or live in an area without network connectivity. This is a natural extension of the Crunchfish Digital Cash platform, enabling P2P top-up of cards and wearables from mobile apps and contactless payments from non-mobile devices to mobile apps, even in offline mode.

“By allowing non-mobile devices, such as smart cards and wearables, to exchange value with mobile apps, Crunchfish Digital Cash enable financial inclusion by a swift and easy way to pay in many use cases, also without network connectivity. Our main take away was the positive and encouraging feedback we received from representatives at the central bank of India. We are looking forward to continuing the dialog and take it to the next level as Digital Cash is relevant for the Indian payments market”, says Joachim Samuelsson, Crunchfish’s CEO.

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 30 May 2022 at 14:05 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, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish Digital Cash AB expands its operation with the recently opened subsidiary Crunchfish India Private Limited Company. Digital payments is growing very fast in India and is likely to surpass 100 billion transactions already in 2022 and projected to go beyond 500 billion in 2025. The Crunchfish India subsidiary will be strengthen Crunchfish’s market presence in India and demonstrate its commitment to the market.

Crunchfish takes further steps in its establishment in India through the newly registered Crunchfish India Private Limited Company. The Indian subsidiary provides the enabling framework to advance Crunchfish Digital Cash in India.

India ranks as No. 1 in the world for real-time digital payments and the growth will accelerate further. The numbers of transactions is projected to reach a staggering 500 billion in 2025. Focus is on mass-reach solutions on interoperable platforms where offline payments will be a key component. Policy and regulatory support from government and the Reserve Bank of India will drive the next leap of growth.

Source NASSCOM: India Digital Payments 4.0 – Sprinting towards a world-leading digital payments ecosystem in 2025.
Numbers in crore = 10 million transactions.

“We see significant potential for Crunchfish Digital Cash platform in India as offline payments will be key role in this mass-reach Payments 4.0 era of digital payments. Our Indian subsidiary demonstrates Crunchfish commitment to the market and will be beneficial in interaction with RBI and government agencies, that are actively driving the innovation landscape. It is important to be present where the action is.” says Joachim Samuelsson, Crunchfish’s CEO.

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 May 2022 at 07:30 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, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish in partnership with T-Hub today officially launched an Augmenting Payment Accelerator program at an event at the Swedish embassy in Delhi.

T-Hub is an innovation hub and ecosystem enabler, based out of Hyderabad, India. Together T-Hub and Crunchfish is arranging India’s first Augmenting Payments Accelerator program, enabling fintech companies to create innovative payment products and services based on Crunchfish Digital Cash platform.

The program was officially launched at an event at the Swedish Embassy in Delhi, May 23rd, 2022. The event was co-organized with Business Sweden and hosted keynote speaker Beju Shah – Head of Nordic Centre at BIS Innovation Hub, together with presentation from Joachim Samuelsson – CEO Crunchfish, Mahankali Srinivas Rao – CEO at T-Hub, HE Gautam Bhattacharyya – Chargé d’Affaires a.i. & Deputy Head of Mission, Embassy of Sweden and Cecilia Oskarsson – Sweden Trade & Invest Commissioner to India.

During the event a Memorandum of Understanding (MOU) was signed between Crunchfish and T-Hub. The MOU regulates the joint Sweden-India FinTech collaboration.

For more information on the Augmenting Payment Accelerator program, refer to the official presentation of the program and invitation to the launch event.

 “Fintech Startups contribute considerably to the future well-being of the country as well as the world. By understanding and nurturing the power of digital currency in the country we are paving the way for a digital revolution which has never been witnessed before. Our objective is to support a powerful ecosystem which will be a first step towards a brave new world.", says Mahankali Srinivas Rao – CEO at T-Hub.

“It’s great for Crunchfish to be part of this joint Sweden-India FinTech collaboration. The projected growth of digital transaction requires offline payment solutions like Crunchfish Digital Cash platform to augment online payment services, in order for them to cope with the explosive volumes and provide financial inclusion to the masses. The Augmenting Payment Accelerator program will support this effort and the future of payments. ", says Joachim Samuelsson, Crunchfish’s CEO.

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 23 May 2022 at 14:30 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, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

About T-Hub –  www.t-hub.co

T-Hub (Technology Hub) is an innovation hub and ecosystem enabler. Based out of Hyderabad, India, T-Hub leads India’s pioneering innovation ecosystem. With a mission of enabling and empowering an ecosystem hungry for innovation, T-Hub is creating impact for startups, corporations, and other innovation ecosystem stakeholders. Incorporated in 2015, it has provided over 1800 national and international startups with access to better technology, talent, mentors, customers, corporates, investors, and government agencies. It has elevated innovation for leading national and global corporations, transforming their business models for the better. Working in collaboration with innovation partners and enablers in Telangana, India and worldwide, T-Hub is building a future-ready innovation ecosystem.

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Digital Cash India was the topic of the 19th Survival of the fittest webinar. The webinar covered India’s fast-growing digital payments market and how Crunchfish could solve many of the key challenges faced in India’s payment ecosystem through offline payments with infinite load possibilities.

India has become the epicenter in the world for digital payments, and it will continue growing. Mobile payments over UPI continue to grow very rapidly. In October 2020, UPI celebrated 2 billion transactions in a month but has now reached 5 billion, only 16 months later. There is more growth to be had, and offline payments will be the key enabler. In 2025 the number of digital transactions is projected to be a whopping 548 billion.  This webinar on Crunchfish Digital Cash India was the 19th of the Survival of the fittest webinar series. 

In this webinar, Vijay Raghunathan, Head of Crunchfish Digital Cash India, presented the key challenges of digital payments in India, its market, and Crunchfish’s solution and opportunity. A panel discussion followed with Gagan Kochar, Crunchfish India Senior business developer, and Crunchfish group CEO Joachim Samuelsson. Johan Wester moderated the webinar.

Register for the webinars and see all previous webinars at crunchfish.com/webinars/.

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 20 May 2022 at 12:00 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, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Crunchfish patents and innovation were the topics of the 17^th Survival of the fittest webinar. The webinar covered Crunchfish’s extensive patents within Digital Cash and its ability to innovate and be creative.

Creativity is one of Crunchfish’s core values, and by combining new verticals to solve things in a new way, Crunchfish is successful in innovation. This is manifested in more than 40 innovations, of which more than 30 have been granted patents, in the areas of DigitalCash, GestureInteraction, and ProximityInteraction.

This webinar on Crunchfish Digital Cash patent portfolio was the 17th of the Survival of the fittest webinar series.

In this webinar, Crunchfish group CEO Joachim Samuelsson gave an overview of Crunchfish extensive patent portfolio within Digital Cash and a panel discussion followed with Björn Andersson, European Patent Attorney, Ström & Gulliksson, Paul Cronholm, Founder and CTO of Crunchfish and Joachim Samuelsson. Johan Wester moderated the webinar.

Register for the webinars and see all previous webinars at crunchfish.com/webinars/.

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 6 May 2022 at 12:00 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, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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Central Bank Digital Currency (CBDC) is being evaluated around the world where cash-like features such as ease of use, offline-, inclusive- and private- payments are key requirements. CBDC designs are often limited and not capable of replicating the unique properties of cash payments. Indian ecosystem innovation pioneer T-Hub, in collaboration with Crunchfish, will arrange a unique accelerator program enabling fintech companies to create innovative CBDC products and services by exploiting Crunchfish Digital Cash. This webinar on Digital Cash CBDC Accelerator was the 15th of the Survival of the fittest webinar series.

Sanjay Thakur, senior banker and advisor to T-Hub outlined the CBDC Augmenting Payments accelerator program followed by a panel discussion moderated by Johan Wester with Srinivas Rao M, CEO of T-Hub and Joachim Samuelsson, Crunchfish group CEO as panelists.

Register for the webinars and see all previous webinars at crunchfish.com/webinars/.

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 22 April 2022 at 12:00 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, automotive and digital interfaces. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

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