Drop App launched in the US on October 10th, and the Canadian-based app is already making waves. It enables users to shop at all their favorite stores, and earn points directly on their card of choice. Derrick Fung is the CEO of Drop, and he joins Cheddar to explain what the company plans to do with their recently raised $5.5 million seed round. Fung also explains how Drop gets retailers to join. Traditional credit cards get their points from interchange fees. Instead of this model, Drop pushes merchants to fund points. Merchants are happy to sign on because Drop sends insights based on user data to the companies they work with. So Drop partners get 360 consumer info on how their consumers are shopping at many different companies.