Samsung has announced the launch of the Contactless Companion Platform (CCP), in collaboration with Smartlink and Ingenico, which has been designed to “enable digital cash for everyone”.

Through the new CCP system, a user can make digital cash payments at any contactless-enabled location via a device of their choice – such as a dedicated smartcard, wristband, key fob, watch or smart ring.

Users can top up their contactless device via an Android or iOS mobile app, which offers simple solutions for allocating money and additional security parameters, like validity and location for the device of choice.

CCP also combines 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.

Jörg Suchy, associate director business development LSI, Samsung Semiconductor Europe, said: “The Contactless Companion Platform exemplifies the coming together of Samsung’s strong engagement with the security industry and its commitment to enhancing the quality of day-to-day life through innovative technology concepts.

“Key to its success is the inclusion of all levels of society – the rich and the poor – alongside the guarantee of simple, secure, direct transactions, with plenty of top-up channels within a simple-to-use unified solution that truly delivers ‘contactless digital cash for everyone’.”

Sebastian Piolat, head of business development at Smartlink, added: “Our mobile payment solutions target cardholders, and CCP targets cash users by offering a digital alternative to cash. Rather than issuing prepaid cards for the wearables, CCP gives direct access to the funds. To summarise, we create a new use case for our existing mobile transaction platform to address a different market segment previously unreachable for existing digital cash solutions.”

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