HBAR News: Micropayment Platform Dropp Joins Hedera Network

By Kevin • April 19, 2022 1:24 pm • Comments

Dropp just recently announced that it will be joining the HBAR Foundation in order to accelerate the adoption of micropayments using the blockchain in today’s digital economy.

The company is known as the world’s first micro-payment platform that allows for payments in both cryptocurrencies and fiat.

The grant that was provided by the HBAR Foundation is what makes this collaboration possible and helps target a very high demand market where there is a need to be able to send small amounts of money without paying large fees.

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The partnership is mutually beneficial because the Hedera network will gain access to the customer base that Dropp has already acquired and Dropp will be able to take advantage of Hedera’s secure and high performance blockchain ledger.

Yahoo reports:

Dropp’s platform is built on the Hedera Hashgraph network, the world’s fastest distributed ledger offering high-performance and security through its public distributed ledger and is designed for the new and evolving digital ecosystem.

Dropp is revolutionizing micropayments as it is a multi-currency platform that facilitates payments in U.S. dollars; Hedera’s native — energy-efficient cryptocurrency HBAR; and soon USDC — a digital stable coin associated with the US dollar.

Dropp is a micropayment platform built to offer a Pay-Per-Use pricing option to merchants. Dropp is bringing the concept of pay-per-use or usage-based pricing to the digital market.

With Dropp, every digital merchant, large or small, can unbundle their services and offer them on a pay-per-use basis.

The grant that the HBAR Foundation has given to Dropp will essentially allow the company to be able to give out incentives to its customers to try out the service.

The idea is that once customers actually use the service and understand the experience, they will come back to use the platform repeatedly.

Long term, this would be the strategy that will help facilitate long-term growth for both Dropp and usage of the Hedera network.

Dropp is not new to the space and has gathered expertise in the area for roughly 25 years already which it will use to add value to Hedera and its native token HBAR.

So far, Hedera is already handling around 10,000 transactions per second and has processed 1.65 billion transactions since its inception making it an ideal choice for Dropp’s service.

BusinessWire reports:

“The grant from The HBAR Foundation allows us to incentivize new customers with a $5 credit toward their first purchase.

We want consumers to have a first-hand experience making a digital purchase or making micro-donations or tips.

Dropp offers new purchasing options to consumers and an extremely easy-to-use experience to make small-value purchases. We want consumers to try out Dropp. This grant is the catalyst that will help boost the adoption of small value purchases.” said Sushil Prabhu, CEO and Founder at Dropp.

The HBAR Foundation fuels growth of the Hedera ecosystem by providing grants and resources for technical assistance, 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 fees for bandwidth consumption.

With this new partnership, Hedera is currently in the leading position to take advantage of the growing market for micropayment services using blockchain which creates a bullish outlook for its native token HBAR.

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