NEW YORK–(BUSINESS WIRE)–The HBAR Foundation and Dropp, the world’s first low-cost digital micropayments transaction platform that enables payments in both FIAT ($USD) and cryptocurrency, today announced a grant that will help continue to establish Dropp as the payment platform of choice for low-value transactions . The grant will immediately accelerate the adoption of affordable micropayments, a significant unmet need in the digital economy.
“Dropp is a revolutionary technology that solves the incredibly large business problem of high fees associated with low-cost payments,” said Shayne Higdon, Executive Director & CEO of the HBAR Foundation. “The Metaverse, Web3, media, publishing and entertainment, and the creator economy are just a few beneficiaries of their technology, which turns small digital monetary transactions into a profitable endeavor. We’re excited to support Dropp with our grant by helping them grow their customer base and extend the benefits of the technology to consumers around the world.”
Built on the Hedera Hashgraph network, the world’s fastest distributed ledger, which offers high performance and security through its publicly distributed ledger, Dropp’s platform is built for the new and evolving digital ecosystem. Dropp is revolutionizing micropayments as it is a multi-currency platform that allows payments in US dollars; Hedera’s native — energy-efficient cryptocurrency HBAR; and soon USDC – a digital stablecoin linked to the US dollar.
Dropp is a micropayment platform designed to offer merchants a pay-per-use pricing option. Dropp brings the concept of pay-as-you-go or pay-as-you-go pricing to the digital marketplace. With Dropp, any digital merchant, big or small, can unbundle their services and offer them on a pay-per-use basis. There is a significant unmet need in the market for affordable, low-value transactions. In the last two years, the rise of digital services has made this need acute as digital merchants look for more subscribers. With Dropp, consumers get a fair and convenient purchasing option, and merchants get a new pricing method to attract a new customer base with low up-front costs.
“The grant from the HBAR Foundation allows us to encourage new customers with a $5 credit towards their first purchase. We want consumers to have a first-hand experience when making a digital purchase, micro-donating or tipping. Dropp offers consumers new purchasing options and a highly user-friendly experience for small purchases. We want consumers to try Dropp. This grant is the catalyst that will help drive adoption of low-value purchases,” said Sushil Prabhu, CEO and Founder of Dropp. “Our team has been hard at work behind the scenes, leveraging our 25+ years of finance, payment, technology and user experience expertise to solve the pain points for merchants and consumers.”
The HBAR Foundation encourages the growth of the Hedera ecosystem by providing grants and resources for technical support, marketing, and business development to developers, startups, and organizations building on the network. Hedera offers 10,000 transactions per second, near real-time settlement, and low bandwidth usage fees. Since launching in 2018, the public network has processed over 1.75 billion transactions generated by real-world applications.
Dropp is a small transaction micropayment service that helps consumers buy low-value goods and services instantly without disclosing personal information. Dropp maintains the privacy of the user’s purchases and gives the consumer complete control over their data. Dropp offers merchants a cost-effective platform to offer their customers a pay-per-use option. Consumers can download Dropp from Google Play and the Apple Store; It is also available in Google Chrome, Safari, Microsoft Edge and Mozilla Firefox. To learn more about Dropp and what it offers, visit here.
About the HBAR Foundation
Working in parallel with entrepreneurs and the Hedera community, the HBAR Foundation acts as an integrated force multiplier to help builders and creators meet the challenges of bringing their ideas to market. Get your project fully funded with HBAR through a simple and fast grant process and get your project to market quickly.