Moon, a Crypto payments startup is enabling Amazon users to pay using Cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum (ETH) using a browser extension.
The company recently announced the launch of lightning enabled Bitcoin wallets after testing out the product with 250 beta users. Users can shop on Amazon with Bitcoin without any “merchant integration”. BTC is converted to fiat in the background and the merchants receive fiat directly without ever touching Crypto.
Moon CEO Ken Kruger told CoinDesk:
“[The extension] will pop up a QR code and it will have the lightning invoice, which you could also copy and paste if you can’t use the QR code for some reason, and you’ll be able to pay with your favorite lightning wallet.”
Kruger added that by 2020 users would be able to purchase using the lightning network on almost every e-commerce website regardless if the platforms enable Bitcoin payments directly or not. Currently, the extension only supports Amazon but Moon claims to soon add their service on other platforms like eBay, AliExpress, Etsy, etc.
Image Source: Moon
Getting merchant adoption has proved to be challenging in the Crypto space mainly due to the volatility of Crypto assets, as Moon’s solution is just an interface for e-commerce websites without any requirement of merchant onboarding there is a huge scope for mass adoption.
Kruger further added:
“We’re integrating with the Visa and Mastercard networks and we get a cut of the interchange fees that merchants pay every time they receive a credit card transaction.”
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