Company: AURAS Technologies MENA FZCO
Service Name: Auras Pay
Jurisdiction: Dubai, United Arab Emirates
Service Type: Non-custodial Blockchain Payment Interface (DLT SaaS Tool)
1. Overview
Auras Pay is a non-custodial, blockchain-based payment interface offered as a Software-as-a-Service (SaaS) solution for merchants. The platform enables businesses to generate on-chain payment requests and accept direct cryptocurrency payments from customers without handling or processing any virtual or fiat assets.
2. Key Functionalities
- Generation of Solana-compatible payment links
- Merchant dashboard with analytics and tracking tools
- API access for eCommerce or POS integration
- No-code front-end payment request interface
- Compatibility with major Web3 wallets
3. Flow of Funds
- No funds—whether fiat or crypto—flow through or are handled by Auras Pay.
- The payment occurs directly between the customer and the merchant via on-chain peer-to-peer transaction.
- Auras Pay does not collect, hold, transfer, or settle any funds.
4. Legal and Regulatory Position
- Auras Pay is a non-custodial tool built on Distributed Ledger Technology (DLT)
- The company does not operate as a Virtual Asset Service Provider (VASP)
- No license is required under current UAE financial regulations for this technical software offering
- KYC for merchants is performed through licensed third-party providers only
5. Commercial Model
- Merchants pay a fixed monthly subscription fee to use Auras Pay tools
- Subscription payments are made through off-chain methods (e.g., bank transfer or PSP)
- There is no per-transaction fee or commission on on-chain payments
6. Technical Infrastructure
- Built on the Solana blockchain
- Hosted via secure VPS servers (e.g., Hetzner EU)
- Integrated with third-party services such as Jupiter (for reference rates), DingConnect, and virtual card APIs (e.g., NymCard)
- Auras Pay does not retain private keys, seed phrases, or wallet access
7. Security Measures
- TLS encryption and API authentication for all platform access
- No sensitive data stored related to crypto transactions
- Full control remains with the merchant and their connected wallets
8. Target Users
- Registered businesses (merchants)
- Crypto-accepting stores, service providers, and eCommerce platforms
- No individual (retail) user onboarding