Dropp Collaborates with Truist bank to Launch Real-Time Payments

Dropp is thrilled to announce the launch of Real-Time Payments (RTP) in collaboration with Truist Bank, offering instant settlement for Dropp merchants and driving significant improvements in cash flow efficiency. The collaboration integrates Dropp’s innovative payment technology with Truist’s advanced RTP APIs that streamline payment processing for its clients, saving businesses time and money.

“We are excited to collaborate with Truist to enhance our payment offerings,” said Sushil Prabhu, CEO of Dropp. “This joint effort empowers merchants with secure, instant, and ultra-cost-effective payment processing for small-value transactions—advancing Dropp’s vision of an instant, account-to-account payment solution as an alternative to cards, cash, and checks.”

Dropp’s platform is designed for the emerging digital, cashless economy, enabling frequent small-value payments for online and in-store businesses, as well as connected devices like parking meters and EV chargers.

“Truist is dedicated to delivering to our clients payment solutions that embrace evolving technology, including RTP and APIs, as we create opportunities for more streamlined and secure transactions,” said J. Christopher Ward, Head of Enterprise Payments at Truist and Board Member of The Clearing House. “Together with Dropp, we’re providing instant payments that leverage real-time data to give merchants a competitive edge by optimizing their cash flow management.”

A special thank you to Chris Noe, Mark Tizzard, Puneet Gulati, and the Truist RTP team for their support. We look forward to continuing our joint mission of delivering the most cost-efficient payment solutions to our customers.

Dropp (www.dropp.cc) is an instant payment platform leveraging instant banking rails from Truist Bank (www.truist.com) and distributed ledger technologies from Hedera.