What is Aura?
Aura is a credit card payment solution developed for the Brazilian market and one of the most popular online payment methods, along with HiperCard and Elo. Aura allows consumers to pay in installments by choosing among 3, 6, 9, or 12 monthly installments. The merchant receives payment instantly, but the customer can choose to pay via Aura in 3, 6, 9, or 12 installments. The card also enables recurring online payments.
Cetelem (BNP Paribas) is one of the larger Aura credit card issuers that has partnered with MasterCard for Aura-MasterCard co-branded cards. Currently, there are over 3 million co-branded Aura cards in Brazil. Redecard and Cielo are the main Brazilian acquirers who process and settle transactions on this network, which enables merchants to accept Aura payments in their e-commerce shops via several payment service providers.
How does Aura work?
When a customer is ready to complete their purchase at the checkout, they can choose from different payment options. By choosing a credit card as their payment method, they are either directed to a special page or move along your checkout process to a place where they can add their card details. Most of the time, it’s the card brand, cardholder’s name, card number, expiry date, and security code. After putting in all those details, customers can make their initial payment to Aura. This payment is followed by others depending on the payment scheme the customer chooses. Merchants receive funds instantly.
Why do merchants and consumers use Aura?
Aura offers many benefits to its customers, including the ability to make payments online quickly, securely, and in installments. This allows customers to purchase high-end products with more confidence thanks to the flexibility in payment schemes Aura offers.
Merchants need to accept credit card payments to compete with other businesses, and Aura provides a unique opportunity to do so – and take advantage of the growing customer segment using Buy Now, Pay Later (BNPL) solutions. This payment option allows merchants to offer their customers convenience, ease of use, and fast transactions. Merchants who accept this payment option tend to see more business because people who hold Aura are more inclined to make larger or higher-priced purchases.
How can I start accepting Aura?
The easiest way to accept Aura at your online store is by implementing a payment gateway that includes this option. Team up with a modern payment service provider that has global coverage to increase your presence in local markets, capture new customer segments, and grow your business locally.