Crunchfish AB (“Crunchfish”) announces today that the Digital Cash solution has been refined and is ready for shipment with V-OS Virtual Secure Element. V-OS is a trusted execution environment where Digital Cash is securely stored, and Digital Cash processes can be executed in isolation from the unsafe environment of the mobile app.

Worldwide we have made us dependent on the net. Digital payments are no exception, and demand reliable online systems. At the moment of payment, there is a risk that the payment is denied due to no network connectivity, infrastructure failure or overloaded bank servers. With Crunchfish Digital Cash the payment is made locally on the smartphone, completely offline and irrevocably, providing 100% payment performance.

Crunchfish Digital Cash Wallet has now been integrated and is ready for shipping with V-OS Virtual Secure Element. This means that the Digital Cash Wallet is a packaged solution with a secure component that creates a trusted execution environment where data is securely stored, and where processes can be executed in isolation from the unsafe environment of the mobile app.

The Digital Cash Wallet maintains a credit balance as well as a log of all offline transactions. As this is sensitive data it must be maintained with banking grade security. This is accomplished by a secure element within the app that handles cryptographic keys, verification of user credentials, authentication of transactions, and maintenance of digital cash credit balance and transaction log.

Crunchfish and V-Key entered a Marketing & Technical Partnership Agreement in July 2020. V-Key is the inventor of internationally patented V-OS, the world’s first Virtual Secure Element, which recently obtained Common Criteria EAL3+ on both Apple iOS and Google Android mobile phones.

“This is a milestone in the development of Digital Cash. Our Digital Cash makes digital payments available offline and ensure 100% payment performance. With V-OS integrated, we now have a packaged solution ready for shipping”, says Paul Cronholm, CTO of Crunchfish.

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

Erik Berggren, IR Manager
+46 726 011 673
erik.berggren@crunchfish.com

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

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Crunchfish and Getswish continue to investigate the possibility to enable offline payments with Swish, in spite of today’s announcement from PTS of not receiving funding via the PTS Innovation contest. The ambition remains to provide the Swedish society with a digital equivalent to paying with cash.

Crunchfish’s and Getswish’s submission to the PTS Innovation contest reached the final but was not selected to receive funding from PTS. Crunchfish and Getswish will continue the dialogue to make Swish available in contexts when internet connectivity is not available, or banking services are down.

”Swish is an incredible success story for online payments, however Swish demands that the user is online. We very much believe in the idea of being able to pay offline with Swish as well.”, says Anders Edlund, CPO at Getswish.

”We’re looking forward to build an innovative world-class solution together with Swish, that will create a digital equivalent to paying with cash”, says Joachim Samuelsson, CEO of Crunchfish.

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

Erik Berggren, IR Manager
+46 726 011 673
erik.berggren@crunchfish.com

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

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A webinar about our Q1 2021 report together with Alf Riple, Chief Analyst at Västra Hamnen Corporate Finance.

Today, Crunchfish AB (”Crunchfish”) publishes the company’s interim report for the first quarter of 2021. Below is a brief summary of the report.

The report is available as an attached document to this press release as well as through the company’s website.

A comment from our CEO Joachim Samuelsson
”Digital Cash is the future of Digital Payments. Card, instant and crypto are the three digital payment schemes of today. In addition, central banks around the world are planning to digitize cash as Central Bank Digital Currency (CBDC). Crunchfish Digital Cash Wallet xoxo.cash compliments all of these schemes with a robust, interoperable and exceptionally flexible payment service, replicating the properties of paying with physical cash. This is the digital payment of the future and the solution to exploding transaction volumes and financial inclusion worldwide.”

Crunchfish also announces that the company has decided to streamline its marketing communication and starting today, we will provide press releases and financial reports in English only.

At 09:00 CET/13:30 IST, a live webinar about the report will be hosted on Zoom together with Alf Riple from Västra Hamnen Corporate Finance. To participate at this webinar, registration is done via the following link:
https://us02web.zoom.us/webinar/register/WN_g_qW6OpCRfqDLOUZL5G2bA

A recording of this webinar will also be available afterwards on Crunchfish’s website as well as Västra Hamnen Corporate Finance’s website.

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

Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@crunchfish.com

This information is information that Crunchfish AB is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on May 19, 2021.

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 technical pioneer within digital payments with its ground-breaking Digital Cash Wallet using a two-step payment process, first clearing offline followed by online settlement, which makes digital payments robust and independent from the net. Crunchfish Digital Cash Wallet is extremely flexible and may be used with all types of payment services. Crunchfish has also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and have a patent-pending solution to reduce food waste. Crunchfish also develops gesture control of smart AR glasses for the consumer market. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

On Wednesday, May 19 at 08:30 CET/13:00 IST, Crunchfish AB (“Crunchfish”) publishes its interim report for Q1 2021. At 09:00 CET / 13:30 IST, a live webinar about the report will be hosted on Zoom together with Alf Riple from Västra Hamnen Corporate Finance.

In order to participate at this webinar, registration is done via the following link:
https://us02web.zoom.us/webinar/register/WN_g_qW6OpCRfqDLOUZL5G2bA

A recording of this webinar will also be available afterwards on Crunchfish’s website as well as Västra Hamnen Corporate Finance’s website.

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

Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@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 technical pioneer within digital payments with its ground-breaking Digital Cash Wallet using a two-step payment process, first clearing offline followed by online settlement, which makes digital payments robust and independent from the net. Crunchfish Digital Cash Wallet is extremely flexible and may be used with all types of payment services. Crunchfish has also developed Blippit, an app terminal that connects to cash register systems for both online and offline payments and have a patent-pending solution to reduce food waste. Crunchfish also develops gesture control of smart AR glasses for the consumer market. Crunchfish is listed on Nasdaq First North Growth Market since 2016, with headquarters in Malmö, Sweden and with representation in India.

Crunchfish och ToneTag, två pionjärer inom digitala betalningar, har ingått ett Marketing & Technical Partnership Agreement för att kunna erbjuda Crunchfishs betalningslösningar inom Digital Cash tillsammans med ToneTags patenterade ljudvågsinteraktion. Genom att integrera bolagens innovativa teknologier möjliggörs offlinebetalningar även med feature phones.

Många konsumenter kan inte betala digitalt på grund av dålig internetuppkoppling samt brist på betaltjänster för feature phones. ToneTags innovativa ljudvågsinteraktion kombinerat med möjligheten för offlinebetalningar hos Crunchfishs Digital Cash-lösningar är en avancerad lösning som kan möjliggöra en mycket bredare användning för digitala betalningar i till exempel detaljhandel, på bensinstationer och för betalningar inom kollektivtrafik.

ToneTag, ett indiskt bolag verksamt inom närhetsbaserad kommunikation baserat på ljudvågor, har utvecklat en robust datakommunikationskanal för att möjliggöra nyskapande lösningar i flera olika branscher. Bolagets lösningar gör det möjligt för användare att utföra snabba och bekväma kontantlösa transaktioner genom att använda en innovativ och säker ljudvågbaserad teknologi. Lösningen kräver varken höghastighetsinternet eller en smartphone för att genomföra säkra betalningar; betalningen kan slutföras med vilken mobiltelefon som helst, inklusive feature phones som idag används av miljoner indier.

Digital Cash är exceptionellt flexibelt och är agnostiskt för både bärarinstrument, betallösningar, interaktionsmetoder och för olika terminaler hos handlare. Detta ger en oöverträffad möjlighet för digitala betaltjänster att tillhandahålla offlinebetalningar och bevara integriteten. Med detta avtal fortsätter Crunchfish att utöka sitt Digital Cash Partner-program med ToneTag som partner #8.

“ToneTag är en strategiskt viktig Digital Cash Partner med geniala lösningar som möjliggör Digital Cash i en mängd olika användningscase, inte minst i feature phones vilket öppnar stora marknadsmöjligheter både i Indien och andra länder. Vi ser stor potential i detta partnerskap och ser fram emot att arbeta med ToneTag”, säger Patrik Lindeberg, VD för Crunchfish Digital Cash.

”ToneTags ljudvågbaserade datakommunikationslösningar möjliggör digital och röstbaserad utcheckning i offlineläge världen över. Genom att kombinera vår unika teknik med Crunchfishs lösningar för Digital Cash möjliggörs sömlösa betalningsupplevelser för kunderna. Tillsammans med Crunchfish hoppas vi kunna implementera den här lösningen i ett flertal länder”, säger Kumar Abhishek, grundare och VD för ToneTag.

För ytterligare information, vänligen kontakta:
Patrik Lindeberg, VD för Crunchfish Digital Cash AB
+46 730 35 67 15
patrik.lindeberg@crunchfish.com

Ulf Rogius Svensson, IR & Marketing Manager
+46 733 26 81 05
ulf.rogius.svensson@crunchfish.com

Västra Hamnen Corporate Finance AB är Certified Adviser. Epost: ca@vhcorp.se. Telefon +46 40 200 250.

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