Crunchfish announces strategic partnership with AltPayNet

Crunchfish has announced a strategic partnership with AltPayNet, a payment platform provider in the Philippines to enhance the resilience of digital payments.

This collaboration aims to ensure seamless transactions even in regions with limited or disrupted connectivity in Philippines.

Additionally, the partnership seeks to accelerate the development of a financially inclusive economy.

AltPayNet claims to be instrumental in facilitating digital payments for consumers and businesses in the Philippines, aligning with the government's initiative to transition to a cash-lite economy.

By incorporating Digital Cash, Crunchfish's offline payment technology, AltPayNet aims to ensure that digital transactions can continue seamlessly even without internet access.

Crunchfish's offline technology allows payments to be securely processed and settled at a later time, minimising the need for constant network connectivity.

This capability ensures that payments can continue seamlessly during emergencies or in remote areas, thereby enhancing financial inclusion by making digital transactions accessible to communities that primarily rely on cash.

Furthermore, the digital management of change helps merchants lower their cash handling costs.

AltPayNet founder and CEO Don Vacal said: “The Philippines is a uniquely challenging market for payments due to its geography and frequent natural disasters. Our partnership with Crunchfish allows us to deliver uninterrupted digital payment solutions that keep economic activity moving even when connectivity or power is disrupted – we call it ‘last mile payments.”

Crunchfish CEO Joachim Samuelsson said: “AltPayNet is an important player in Southeast Asia’s digital payments ecosystem. Together we are rethinking how to build a resilient and inclusive payment infrastructure that works online, offline, and with cash.”

AltPayNet is a global provider of payment platform solutions, focusing on SaaS payments, white-label payment gateways, operational consulting, risk management, and cybersecurity services.

The company has presence in Hong Kong, the Philippines, Malta, the USA, and recently expanded to Malaysia.

AltPayNet currently serves over 20 white-label payment gateway clients worldwide.

Crunchfish is a fintech company specialising in Digital Cash solutions that facilitate offline payments.

This technology is aimed at banks, payment services, and Central Bank Digital Currencies (CBDC), enhancing payment systems by ensuring transactions can proceed even when internet connections are lost or servers fail.

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It is headquartered in Malmö, Sweden and has a subsidiary in India.

"Crunchfish announces strategic partnership with AltPayNet" was originally created and published by Electronic Payments International, a GlobalData owned brand.

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