On June 22, 2023, the American Chamber of Commerce, together with the U.S. Embassy in the Kyrgyz Republic, successfully organized a business breakfast featuring Mr. Vijay Menon, the founder and CEO of Butter Payments from Silicon Valley. The event brought together representatives from IT companies, the fintech sector, and the banking industry.
During the event, Mr. Menon shared his unique experience in creating and operating Butter Payments, as well as provided insights into their proprietary payment authorization and recovery technology. Butter Payments is a payment platform actively working to prevent inadvertent disruption of legitimate payments, thus preserving 5% of the total number of subscribers, a diminishing figure that decreases each year. Several years ago, companies like Microsoft, Dropbox, and Scribd incurred significant financial losses due to unwanted subscription cancellations. Through Mr. Menon’s efforts in strengthening the financial foundation, his previous employers were able to avoid losing millions of dollars. In the process of addressing this issue, he developed a cutting-edge foundational technology for payment authorization and recovery, patented under the name “Butter.” This technology optimizes each payment based on individual circumstances, making the product significantly more efficient compared to other solutions. Butter Payments strives to simplify the lives of its clients by offering a complimentary payment analysis to demonstrate how payment failures impact businesses today.
It is worth noting that Mr. Menon is also a TED speaker and the author of the book “A Brown Man in Russia,” published in 2018. He obtained his education from Duke University, where he successfully completed dual degrees in Statistics and Economics. Currently, Mr. Menon resides in Silicon Valley, where he founded Butter Payments after gaining experience at prominent companies such as Microsoft and Dropbox.
We would like to express our sincere gratitude to the U.S. Embassy for their assistance in organizing this business breakfast, as well as extend our appreciation to Mr. Vijay Menon and to all our participants for their active engagement.
