Aurus: Cutting-Edge Retail Payment Solutions

Founded in 2000, Aurus offers a unique value proposition in the enterprise security space. With a focus on payments security and innovation, the company has grown organically over the last 17 years, without any external funding. Aurus caters to a global clientele, including Fortune 2000 companies in retail, payments, and financial verticals.

The payment landscape is a fairly large vertical space, yet it presents a closed-door environment with a limited number of players. Because of recent breaches, security has become a core focal point from a branding perspective for many retailers. At the same time, consumers have adopted mobile devices to shop through different channels. Payment is tightly coupled as part of the consumer buying process and retailers need sophisticated equipment to remain competitive. Aurus decouples innovation and regulation for its customers. “From a payments perspective, we are at the epicenter to help provide a solution to retailers who want to provide multichannel tendering,” explains, Rahul Mutha, CEO, Aurus.

Recognized as best in class payment security, AurusShield removes the card transaction from the traditional Point of Sale (POS) system using proprietary technology. Traditionally, in the retailer checkout experience, the POS system faces the cashier and interacts with a device facing the consumer. This historical architecture lends itself to the propagation of malware and viruses. AurusShield reverses the data flow in the checkout process to prevent corruption without adding delays from a consumer perspective.
Rahul Mutha,CEOAurus QChip was designed to speed up the checkout lines at retailers by making payment with a Europay, MasterCard, and Visa (EMV) chip card faster. As an innovator in the industry, Aurus had three large retail chains fully deployed in the U.S. with their innovative chip reader technology while most companies were struggling to get pilot programs off the ground. Today, they have deployed Aurus QChip to over 100,000 retail checkout lanes, with a complete transaction time of three seconds, compared to eight to ten seconds that chip readers initially took. Aurus accelerated the checkout time by over 300 percent, which makes it convenient for the consumer and more productive for the retailer, without compromising the EMV cryptogram creation.

Mutha states, “Based on our core of fundamental value perspectives, we provide a complete turnkey solution to retailers around payments.” Aurus provides solutions that span the entire payment ecosystem and manages it in a seamless way for the retailer. Their products and services are designed to manage payment systems while providing peripheral support within a single platform.

Drive end to end retail innovation for creating unified consumer experiences across your retail channels without getting tangled in the intricacies of managing payment regulations, integrations and certifications

Aurus strives to solve specific problems in the payment vertical by understanding the unique challenges facing each retailer. In one case, a convenience store chain wanted to differentiate itself from the competition with an innovative payment system. The client wanted a mobile platform that would allow consumers to select a grade of gasoline and complete payment on a mobile phone without getting out of the car. Part of the challenge was that this solution could not involve any changes to the POS source code. Aurus was able to build a solution around the existing POS system, with a hardware model that allowed this type of payment solution.

Aurus continues on its growth trajectory with a goal to grow from 20 to 40 countries in the next three years. They plan to continue adding new service and solution delivery capabilities to their existing payments offerings. Building an innovative, intelligent and integrated enterprise is the guiding principle that propels them to move forward.