Dropp, a payment service for small value transactions, has announced its marketplace debut amid an increase in digital transactions.
The Dropp platform is developed on the Hedera Hashgraph network, a public distributed ledger network. The platform will enable fiat (USD) and cryptocurrency payments for small value purchases.
The company will offer merchants with pay-per-use and micro-subscriptions purchase options. This will help them to expand their customer base.
On the other hand, it will enable consumers to access to products and services requiring subscription.
Dropp CEO and chairman Sushil Prabhu said: “After decades building sophisticated technologies for some of the world’s leading financial institutions and brands, we saw a huge opportunity to build a more inclusive global economy.
“Businesses need cost effective payment options without having to pay cost prohibitive merchant fees for transactions under $20, specifically under $5 dollars, and consumers are demanding ways to access products and services that may have been out of reach.
“With Dropp, consumers can gain access, for example, to a single movie without having to pay a full subscription or a start-up could get access to an expensive cloud data service and only pay per use. It’s all possible because we are providing buyers and sellers access to a previously untapped and unrealised micro-transaction economy.”
The company also appointed an advisory board that will support Dropp to bolster its footprint.