Welsh fintech startup Burbank is making waves in the digital payments industry with the launch of its Card-Present over Internet (CPoI) technology, which is a groundbreaking solution designed to combat online fraud and eliminate costly false declines in e-commerce.
Burbank’s CPoI is the world’s first PCI-certified technology that brings the security and familiarity of in-store tap-and-PIN transactions to online payments. Instead of relying on stored credentials or digital wallets, customers can now simply tap their physical payment card on their mobile device and enter their PIN, mimicking the secure experience of card-present transactions in retail stores.
“Our solution transforms the online payment experience,” explained Justin Pike, Burbank’s founder and CEO. “For the first time, merchants can shift liability, reduce fraud, and eliminate false declines, which cost businesses over $443 billion annually.”
The startup recently raised £5 million in seed funding to fuel global expansion, with Mouro Capital leading the round. Investors include Anthemis (backed by Foxe Capital), Portfolio Ventures, and other notable backers. This funding will support team growth, technology development, and the worldwide rollout of Burbank’s platform.
Bringing Card-Present Security to Digital Transactions
Burbank’s innovative CPoI technology directly integrates into apps or via QR codes for web-based retailers, offering a seamless SDK integration. By eliminating the need for stored payment credentials, CPoI significantly lowers fraud risks and reduces processing fees, chargebacks, and false positives.
The platform aligns with familiar consumer behavior — tap-and-PIN — allowing users to authenticate transactions anywhere, anytime. During a recent live demonstration, Burbank made history by completing the world’s first online card-present transaction, a major milestone for digital payments.
Pike shared that the inspiration for CPoI came during the pandemic. “My mother-in-law asked, ‘Why can’t I just tap my card on my phone like I do in stores?’ That simple question, coupled with rising online fraud, sparked the development of CPoI,” he said.
Today, online fraud costs businesses $40 billion annually, while false declines — legitimate transactions wrongly flagged as fraud — result in $443 billion in lost sales. Burbank’s solution directly addresses both issues, offering merchants a significant return on investment through reduced fraud and higher conversion rates.
Unlike traditional fraud prevention tools that bolt onto outdated systems, Burbank replaces the system entirely. With full PCI certification, it is the first protocol to enable legal liability shifts away from merchants—a game-changing development in online payments.
“Payment experiences should be consistent, whether in-store or online,” Pike added. “With CPoI, we’re bringing that same trusted, secure tap-and-PIN experience to digital transactions. It’s simple, scalable, and delivers bank-grade security.”
Burbank is already attracting attention from major payment providers eager to integrate CPoI into their offerings. The company plans to scale rapidly through white-labeled partnerships with acquirers, PSPs, and payment gateways, focusing heavily on enterprise adoption.
Mouro Capital’s General Partner, Manuel Silva Martinez, praised Burbank’s potential: “Justin and his team have created what the market desperately needs — a white-label SDK that integrates easily with existing stacks, supporting iOS and Android.”
Ruth Foxe Blader of Foxe Capital added, “CPoI is the first protocol that shifts liability off merchants. It’s highly scalable with global demand.”
Burbank, headquartered in Cardiff with an experienced team and groundbreaking technology, is redefining how businesses handle online payments, prevent fraud, and authenticate customers. The company delivers a seamless experience that protects both merchants and consumers.
