US Patent Issued to Dropp on Feb. 17 for "Microtransaction system" (New Jersey Inventors)

ALEXANDRIA, Va., Feb. 17 -- United States Patent no. 12,555,091, issued on Feb. 17, was assigned to Dropp Inc. (Newark, N.J.).

"Microtransaction system" was invented by Sushil Prabhu (North Caldwell, N.J.) and Rajiv Sohal (Livingston, N.J.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method of effecting a transaction with a micropayment platform that includes a merchant-participant, a consumer-participant, a micropayment system, and a distributed ledger, the method includes receiving by the micropayment system from the merchant-participant a digital promise to pay document (DPP), validating the DPP by the micropayment system, the DPP including at least a payable amount, which includes an amount payable t...