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Micropayment platform Dropp announces its marketplace debut

By Pavithra R

August 10, 2021

  • America
  • Micropayment
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Micropayment platform Dropp announces its marketplace debutDropp, a cost-effective digital micropayment transaction platform enabling payments both in FIAT ($USD) and cryptocurrency putting low payment options in reach of both merchants and consumers, has announced its marketplace debut.

The firm has also announced the appointment of an advisory board comprising top media, cloud computing, and fintech professionals. Dropp offers businesses a profitable micropayment option to enable small value purchases with fees that are on average 15 times cheaper than most payments solutions. The technology is designed to give merchants pricing flexibility that enables purchasing options such as pay-per-use and micro-subscriptions, helping them to retain and attract a new customer base as well as opportunities to add a new revenue stream. Dropp gives consumers affordable access to products and services on an a la carte basis that may have previously only been available via a monthly or yearly subscription

“After decades building sophisticated technologies for some of the world’s leading financial institutions and brands, we saw a huge opportunity to build a more inclusive global economy. Businesses need cost effective payment options without having to pay cost prohibitive merchant fees for transactions under $20, specifically under $5 dollars, and consumers are demanding ways to access products and services that may have been out of reach. With Dropp, consumers can gain access, for example, to a single movie without having to pay a full subscription or a start-up could get access to an expensive cloud data service and only pay per use. It’s all possible because we are providing buyers and sellers access to a previously untapped and unrealized micro-transaction economy,” said Dropp CEO and Chairman Sushil Prabhu.

The Dropp platform was built on the Hedera Hashgraph network, a high-performance public distributed ledger network. The firm offers a unique micropayment option that facilitates payments in both government-issued currencies such as U.S. dollars and Hedera’s native, energy-efficient cryptocurrency HBAR, which is used to power decentralized applications and protect the network from malicious actors.

“Micropayments is an ideal use case for Hedera’s decentralized network, and we are very excited about the launch of Dropp on the Hedera network. Dropp is one of the few platforms available in the market today for the everyday consumer and merchant, thus the adoption possibilities are endless,” said Mance Harmon, Hedera CEO and co-founder.

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