Aurus: Creating the Store of the Future

Embracing scalable and securer payment solutions, retailers increase their ability to innovate in the marketplace. It is one of the key factors of a differentiated retail solution. Aurus is a global leader in providing secure, simple and seamless multi-channel payments for many of the top 100 retailers. The company caters to clientele across the globe, including Fortune 2000 companies in retail, payments, and financial verticals.
A Walk Around Aurus
Established in 2000, Aurus is headquartered in the Boston suburbs with a fully owned development center in Pune, India. The company employs one of the largest payment engineering teams focused on managing the complexity of payments and delivering results as per its client’s timelines. The company’s business manages millions of transactions each day and offers its services in over 20 countries, including the United States.
The Man Behind the Idea
Rahul Mutha is the Founder and CEO of Aurus. He founded the company in 2000 with the vision of transforming the retail payment process from a mere necessity to a competitive advantage. It all started with mobile payments in early 2000 and a simple gateway back-end. Today, his vision has expanded to managing every point of payment for the retailers.
Before founding Aurus, Rahul worked as an Enterprise Architect for Emergent that focused on Datawarehouse and Business Intelligence Solutions. He has published a paper on “Modeling of semiconductor devices degradation in outer space” by using Parallel Computing Algorithms on high-density computing Cray Systems. He holds a Master’s Degree in Computer Engineering from University of Massachusetts, and a Bachelor’s Degree in Electronics Engineering from University of Pune (India).
Extraordinary Products and Exceptional Features
Aurus has developed the AurusPay platform. This fifth generation EMV semi-integrated payment platform is designed to seamlessly integrate with a merchant’s POS, E-commerce portals, and mobile devices. The AurusPay platform provides one of the industry’s best-patented security solutions removing the merchant’s “POS out of PCI scope.” AurusPay offers access to a broad array of payment products such as US EMV, Apple Pay, Samsung Pay, EBT, and eWIC; coupled with the flexibility to choose from over 20 US and international payment processors.
Aurus Shield provides best-in-class security. The features of this product include P2PE Encryption and Tokenization at no additional cost across all payment touch points. With the product, PCI Certifications are maintained to the highest standards. For security, the Aurus product has some remarkable functionalities.
POS out of PCI scope: A patented technology takes the POS out of PCI scope. It literally removes the card transaction from traditional POS and mPOS systems using the technology.
Tokenization: AurusPay enables the completion of transactions without the card data traversing through the store premise. The issuance of a time-dependent token facilitates card-less transactions that reduces fraud and increases consumer assurance. The tokenization can be leveraged across any place the consumer elects to pay including mobile and e-commerce. This allows merchants to begin to identify customers across their entire enterprise to provide a more seamless set of payments.
Point to point encryption: AurusPay provides P2PE (point to point encryption) as part of its payment acquiring and transaction processing platform. The product solution supports 256-bit encryption as well as third-party processor P2PE encryption.
Fraud prevention and detection: AurusPay supports numerous fraud and risk management techniques as part of its fraud and loss prevention modules such as negative card blocking, cramming protection, country blocking, duplicate transaction prevention, threshold amount, and transaction IP velocity filter.
Aurus QChip is accelerating checkout lines at retailers by making payment with an EMV Chip Card faster than ever. With Aurus QChip, shoppers dip and remove their chip card from the payment terminal in seconds without waiting for the transaction to complete. With this innovation, Shoppers will find the same convenience that they experienced in the magstripe card days.
Aurus lets you choose from a variety of models such as PIN Pad models and manufacturers and more than 20 global processors. When it comes to efficiency, Aurus products provide robust device management and monitoring. They offer a robust enterprise management tool as Aurus Store Place and manage processor certifications and updates.
Learnings from the Challenging Path
As a team, Aurus has learned many lessons from the challenges that came across its path to the growth. Hiring the best people who can commit to a common set of values and culture is critical to the success. When one has the right team, the company will prosper. Hiring mistakes can have a profound impact on achieving the total potential of the business.
A focused business strategy ensures that one can deliver quality products. Too broad of a business strategy can result in not realizing the full potential of the business by diluting resources. The path to delivering a quality product is a journey, not a destination.
One Step in the Near Future
Aurus will continue to be a leading innovator in enabling payments anywhere a retailer would like to sell its products and services. It will achieve this by ensuring a high level of reliability and security.
Developing a multi-channel payment strategy is critical to retailers so that they can better service their customers any place, anywhere, and at any time.

Source :- The 10 Fastest Growing Retail Provider Companies