Aura Pay is a fintech platform that enables instant mobile payments and remittances to Venezuela, utilizing secure payment gateways compliant with PSD2 regulations. The service addresses high remittance costs and lengthy transaction times by offering a fully digital solution with a flat service fee of 3 euros, ensuring rapid and transparent transfers directly to recipients' bank accounts or cash points across the country.
Funding
$2.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Migrant workers face high costs and slow transaction times when sending remittances to Venezuela through traditional channels. Existing services often involve intermediaries, leading to reduced value for recipients and a lack of transparency in the transfer process.
Solution
Aura Pay is a fintech platform that facilitates instant mobile payments and remittances to Venezuela, providing a fully digital solution that bypasses traditional intermediaries. The platform offers a flat service fee of 3 euros per transaction, ensuring transparent and rapid transfers directly to recipients' bank accounts or cash pickup locations across Venezuela. By leveraging secure payment gateways compliant with PSD2 regulations, Aura Pay provides a secure and reliable remittance service. The platform supports payments via card or SEPA transfer, streamlining the remittance process for users.
Target Audience
Aura Pay primarily targets Venezuelan migrants seeking a fast, secure, and cost-effective way to send money to family and friends in Venezuela.
Features
- 100% digital remittance platform accessible from anywhere
- Instant payments to any bank in Venezuela
- Cash pickup options available in 32 locations across 13 states
- Flat 3 EUR service fee per transaction
- Payments via card or SEPA transfer
- User registration in under 1 minute
- Real-time tracking and personalized support
- Compliant with PSD2 regulations for secure transactions