Drop Pay

Shop Drop Band →See our security standards

Drop Pay turns the band into a contactless Mastercard. Tap to pay anywhere contactless payment is accepted on the global Mastercard network, or online with your own virtual Mastercard®. Drop Pay accounts are issued by Pathward®, N.A., Member FDIC, with verified KYC and AML checks at account opening.

Global Mastercard PartnerMember FDICTokenized EMVNo Subscription

Drop Pay

How Drop Pay works.

Drop Pay is the payment layer of the Drop ecosystem. It runs as tokenized EMV contactless on the global Mastercard network, and every setting that governs it lives in the Drop app.

Tap

Pay with your wrist.

Hold the band to the payment terminal until you hear a beep. No phone, no wallet, no card to pull out. It works the same way a contactless card does, at the same readers.

Online

A virtual Mastercard for the web.

Drop Pay also issues your own virtual Mastercard® in the Drop app, so the same account works for online purchases where a physical tap is not an option.

Control

Every limit lives in the app.

The account holder sets the spending, sees every transaction, and can shut the band off in one tap. Nothing turns on without the person who owns the account.

Who stands behind Drop Pay?

Drop Industries, LLC builds and operates the Drop ecosystem, the Drop app, and the band. Pathward®, N.A., Member FDIC, issues Drop Pay accounts and provides regulated banking services. Mastercard provides the global payment network. Each party's role is disclosed in the cardholder agreement.

The bank

Pathward®, N.A.

Member FDIC. Issues Drop Pay accounts and provides regulated banking services. Drop is the ecosystem. Pathward®, N.A. is the regulated financial institution behind it. Funds are insured to applicable limits on a pass through basis.

The network

Mastercard®

Provides the global payment network and tokenized EMV infrastructure, generating a fresh single use cryptogram at every tap. No card number exists on the band to transmit.

The account

Verified at opening.

Drop Pay accounts are opened with verified KYC and AML checks, and card data is handled exclusively in PCI DSS certified environments.

Full security standards →

Drop Pay questions, answered.

Where does Drop Pay work? +
Anywhere contactless payment is accepted, on the global Mastercard network. Drop Pay accounts are issued by Pathward®, N.A., Member FDIC, with verified KYC and AML checks at account opening.
Who issues Drop Pay accounts? +
Pathward®, N.A., Member FDIC, issues Drop Pay accounts and provides regulated banking services. Drop Industries, LLC builds and operates the ecosystem but is not itself a bank.
Is money on Drop Pay FDIC insured? +
Drop Pay accounts are issued by Pathward®, N.A., Member FDIC, and funds are insured to applicable limits on a pass through basis.
Is there a monthly fee or subscription? +
No subscription is required to use the band. Fees that apply to a Drop Pay account are disclosed in the Drop Pay Program Agreement.
What happens to my card details when I tap? +
Nothing is exposed. Each tap generates a fresh, single use cryptogram. No card number exists on the band or passes to the merchant.
Can I use Drop Pay online? +
Yes. Drop Pay issues your own virtual Mastercard® in the Drop app for purchases online, alongside tap to pay in person.
Can parents limit what a child spends? +
Yes. The account holder caps spending, sees every transaction instantly, and can shut the band off in one tap from the Drop app.
What happens to my money if the band is lost? +
Nothing. Turn the band off from the Drop app and order a replacement. The account, the profile, and the funds are untouched, because no personal data or card number lives on the band.

More questions? Contact us support@drop.band

The fine print, in plain sight.

Drop Pay Reloadable Prepaid Mastercard is issued by Pathward®, N.A., Member FDIC, pursuant to license by Mastercard International Incorporated. Full terms are in the Drop Pay Program Agreement.