Samsung introduce the “Contactless Companion Platform” for digital cash

Samsung announced the launch of the “Contactless Companion Platform (CCP)” together with its ecosystem partners, Smartlink  and Ingenico, built with its industry leading dual interface smart card chip for multiple applications and form factors.

As the smart card chip provider, Samsung introduces a disruptive contactless concept with both partners that combines existing contactless services and aligns the needs of users, industries and governments with regards to an inclusive payment solution under the motto of “Digital Cash for Everyone”.

Previewed at Mobile World Congress earlier this month, the CCP partners focus on the migration of cash into digital cash with the full financial inclusion of audiences that currently have no access to payment cards.

With CCP in place, a user can make digital cash payments via any enabled contactless device of their choice, such as a dedicated smart card, wristband, key fob, or even a mechanical watch or a smart ring.

The unique CCP digital cash top up concept offers the user simple and easy solutions to allocate money and additional security parameters like validity and location for the device of choice. Money top up can be done in app (Android and iOS), PC and POS terminals.

CCP can also seamlessly combine digital cash payments with loyalty points, vouchers, travel cards, ticketing, and more, allowing users to pool a variety of contactless services in a few inconspicuous devices of their choice.

Swiss watchmakers Winwatch and Montfort have each developed mechanical wristwatches with an embedded CCP solution, successfully blending technical innovation and traditional Swiss watchmaking to create masterpieces in seamless user experience.

Both these devices were recently unveiled at MWC. Other wearable and accessory manufacturers are currently preparing other CCP-enabled products and a Swiss Fintech company will be imminently rolling-out dedicated CCP-enabled smartcards in several Eastern European countries.