We're doing for payments what MP3 did for CDs

If you think of the internet as just a series of pipes; then it's what you push down those pipes that matters.

We used to buy CDs, but as MP3 compression and home internet connection speeds matured simultaneously, it became more convenient (and cheaper) to deliver music over the internet.

Voice-over-IP (like Skype) means that long-distance telephone calls, once charged at a premium by telecoms firms, are now merely data packets transmitted across the internet - just the same as any other data.

Meanwhile, every time you swipe your credit card, pay online, or use a cashpoint - every time your local coffee shop pays cash into their own bank account - the incumbent financial system makes money with transaction fees.

We started Droplet with a simple idea: that moving money should be free. We route transactions over the internet (fully encrypted, of course) - so each payment is nothing more than data moving through the dumb pipes.

This lets us offer cost savings to our merchants, and convenience and security to our users.

We've exposed a truth that the banking industry aren't ready to face up to yet: that moving money is free. After all, your current account balance is just a number in a database.