Dropp is excited to be listed in the Federal Reserve’s FedNow Service Provider Showcase, an online resource designed to connect financial institutions looking to adopt and innovate upon the FedNow Service with service providers offering instant payment solutions.
“Dropp envisions a global revolution in instant payments, offering consumers and businesses an alternative to credit cards through the use of FIAT and Web3 digital currencies and we are very excited to be a part of the FedNow Service Provider Showcase to showcase our capabilities”, said Sushil Prabhu, CEO of Dropp.
Dropp aims to provide instant payments via partnerships with FedNow adopting financial institutions. Focusing on underserved small-value transactions in both consumer-to-business (C2B) and business-to-business (B2B) domains, Dropp addresses market gaps with cost-effective solutions. The company also offers embedded, white-labeled Digital Wallet Pay by Bank Service, catering to banks and financial institutions looking to enrich their customer payment choices.
Dropp has leveraged distributed ledger technology by Hedera Hashgraph and regulated banking technology to build an extremely secure and cost-effective payments solution. Dropp’s vision is driven by the global emergence of real-time money movement rails in both FIAT and Web3 realms, such as RTP and FedNow in the USA, PIX in Brazil, UPI in India, and the rising popularity of stable currencies like USDC within the Web3 industry for instant value transfer.
To learn more, visit Dropp’s profile in the FedNow Service Provider Showcase on FedNowExplorer.org.
The Federal Reserve does not endorse or support any companies that are listed in the Service Provider Showcase. Federal Reserve Financial Services (FRFS) is merely the host for the Showcase and the inclusion or exclusion of a provider should in no way imply any recommendation or endorsement by FRFS.
About the FedNow Service
The Federal Reserve Banks have developed the FedNow Service to facilitate the nationwide reach of instant payment services by financial institutions – regardless of size or geographic location – around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve’s FedLine® network, which serves more than 10,000 financial institutions directly or through their agents.
‘FedNow’ is a service mark of the Federal Reserve Banks. A list of marks related to financial services products offered to financial institutions by the Federal Reserve Banks is available at FRBservices.org.
About Dropp
At Dropp, we harness the power of next-generation distributed ledger technology (Web3) and regulated banking rails to revolutionize digital payments. Our platform leverages real-time banking rails, enabling seamless transactions across various channels, from the Web to Web3 and other digital devices. By disrupting traditional payment networks, Dropp empowers businesses to accept payments as low as a cent, overcoming the limitations of the credit card network. With our innovative approach, we offer the lowest transaction fees across all price points, providing cost-effective solutions for businesses. To learn more, visit Dropp’s profile in the FedNow Service Provider Showcase on FedNowExplorer.org
