Crunchfish Provides Programmable Money support in Digital Cash
Crunchfish today released a new version of the Digital Cash SDK which brings support for programmable money. Programmable money brings the possibility to dedicate payments for pre-defined categories, for example meal benefits, health welfare, allowances, etc. A sub-wallet is dedicated for the specific category of payments and validated to ensure that debit is made from the correct sub-wallet. This is an important feature especially for CBDC implementations but is also relevant for commercial payment applications.
Digital Cash SDK 2.6 will be launched at the Payments, Innovation, And Technology Week in London. This event, organized by Currency Research, gathers Central Banks, regulators, payment operators and technology providers from across the world. CPO Magnus Lageson will host a Lunch Session on Tuesday September 24, where he will present how Digital Cash now also adds support for programmable money.
The Government of India introduced the Direct Benefit Transfer (DBT) program to transfer/credit subsidies directly into a person’s bank account. By using programmable money, it is possible to ensure that e.g. a food benefit is assigned to an applicable sub-wallet and only used for its intended purpose.
Focus areas for the new Digital Cash SDK have been to add functionality to meet general requirements from the market, including e.g. programmable money and new security features. Also, specific requirements identified in the ongoing customer integrations have been implemented to strengthen the Digital Cash product portfolio even further.
Other highlights in the new Digital Cash SDK version 2.6 include:
- Customer specific reference field
- Improved application interfaces and documentation to simplify integration for customers
- Support for iOS 18 and Android 15
- Improved certificate management
- Improved security features
“Thanks to our ongoing projects and partners we have received new requirements which our development team has been working hard to finalize. I’m really happy that we now can offer programmable money support to our customers and partners in order to support pre-defined purposes of payments. One example of such application is the Indian DBT program. I’m very much looking forward to present our latest developments at the Payments, Innovation, And Technology Week in London. ” says Magnus Lageson, CPO at Crunchfish Digital Cash.
More information about Direct Benefit Transactions in India is available here.
The new version will be made available to existing customers through the Crunchfish Developer portal.
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 September 24th, 2024, 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 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 subsidiary in India.
