Online payments have risen significantly in the past decade or so. It’s all thanks to the safety and security that banks and other financial institutions are offering to help user shop online free of any theft. However, when you look at the different payment portals, you realize that along with cash, debit cards, and credit cards, Cryptocurrency is being accepted slowly worldwide. With Cryptocurrency being the next standardized and unregulated currency format, users are trying hard to buy some and look for places where they use it. its where the Moon comes to the rescue.
Moon is a platform that enables users to use Cryptocurrency to pay off other merchants and online shopping places securely without charging any fee. All the users have to do is install the Moon plugin in the browser, where it creates a virtual temporary visa payments card to convert the crypto into cash and pay the stores. Moreover, you can use the card on any store in the USA that accepts Visa cards through online shopping. With such an innovative forefront, Venture Mirror had the unique opportunity to discuss more on the company with Ken Kruger, the founder and CEO of Moon. To learn more about the interview, we have illustrated it in detail below.
What is the startup / product / venture about? Give us a brief description of it.
Moon is a platform that enables consumers to spend crypto anywhere privately, securely and without fees. We offer a browser plugin that allows consumers to create virtual payment cards with their crypto and use them at any eCommerce merchant in the US.
How many co-founders are there? Please introduce them and their backgrounds.
Ken Kruger is the founder and CEO of Moon. Prior to starting Moon, Ken ran a software consulting company that helped venture backed startups in NY build product. Before that, he founded a gesture recognition company that applied machine learning to inertial sensor data. Prior to entering the startup world, Ken worked at Lockheed Martin on military sensor systems. While at Lockheed, Ken studied financial engineering at Columbia University. He received his B.S. in Computer Science from Cornell University.
How did you come up with the idea? What motivated you to do this?
I believe we will all live on crypto in the future–most likely on Bitcoin. I want to build the company that brings that future to fruition and supports the millions of people who will live in this new crypto-centric world.
Who is your target market? Why do you think your product will appeal to them?
We are focusing on the core Bitcoin and crypto enthusiast communities, especially those that live in the Bitcoin circular economy. These are people who already live on Bitcoin. We believe that our focus on three core values is the most important aspect of our offering: privacy, security and no fees.
Who are your competitors? How are you different from them?
Other payment solutions are crypto debit cards, which require you to give up custody of your crypto; or purchasing gift cards, but not all retailers have gift cards. We allow consumers to pay with their crypto anywhere Visa is accepted in the US.
What are the future plans with the product/startup? Any new features you are planning on?
We will expand our offering to different platforms–not just a browser extension. Not everyone is comfortable installing a browser extension–and they only work on desktop browsers. We want to be everywhere the user is and support them for all their payments. We’re also iterating quickly on the product based on user feedback.