Why Dropp, why now, and what does it mean for you? How Dropp got to where we are today is a combination of decades of passion for innovation in the payment space, the technology catching up to our digital vision, and customer preferences fundamentally shifting in our direction.
The Technology Matured
Our team has extensive fintech experience, particularly in retail banking. As far back as 2000, we architected and launched a P2P payment platform for a leading retail bank. For the last five years, we’ve focused on distributed ledger technology based on blockchain that makes micropayments attractive to merchants because it doesn’t rely on credit card rails. Our first major breakthrough in this area was becoming a Hedera Hashgraph development partner which gave us unique insight into one of the world’s most innovative new networks where crypto transactions could be completed in a fast, secure and cost-effective manner. But we knew we needed to think beyond crypto to serve all customers, not just crypto fans. Today’s Dropp enables payments in HBAR crypto, U.S. dollars and coming soon other government-issued currencies.
The Market Matured
Even prior to the pandemic, the digital economy grew to the point we felt comfortable sharing our concepts and validating them with the business community. We received immediate confirmation from our partners across the payment and telecommunications space, as well as the media, that Dropp would have high appeal with both consumers and merchants. A number of our initial contacts quickly became investors in Dropp and we were off to the races.
Customers Were Ready
Subscription fatigue and ad blockers have had a devastating impact on digital. Customers want to balance their subscriptions with pay-as-you go options for content and products. Dropp makes these small-value transactions profitable for merchants because it eliminates the high credit card fees on the back-end. The use cases are endless, from renting scooters, to tolls and tips to podcasts and games, wherever the customer is, at home, in the car, or on a plane. You know you have a good concept when weeks and months after you share it, you’re still getting emails and texts with new use case ideas.
What use cases come to mind for your business? We would love to brainstorm with you. Feel free to put some time on our calendar.
Listen to Dropp's Founders Discuss "Pay-as-You-Go" with @HelloFutureBuzz"Dropp founders Sushil Prabhu and Shawn Traynor recently appeared on @HelloFutureBuzz's weekly Twitter space discussing Dropp, the technology behind micropayments, and the evolving "pay-as-you-go"...
Originally published by GlobalFintechSeries. View the full interview herePlease tell us about your journey into the micropayment technology industry? In early 2000, I architected and launched a Peer-to-Peer payment platform for one of the top retail banks at the...
Micropayment platform Dropp debuts, putting pay-as-you-go option in reach of both merchants and consumers
At Dropp, we’re huge fans of what other innovative payment companies have achieved in the market. Major companies have all played essential roles in making online payments possible, changing everything for both merchants and customers.