Ruth Foxe Blader from Foxe Capital notes that the CPoI system shifts liability away from merchants, offering a scalable solution to meet the increasing global demand for secure payment methods.

Burbank, based in Cardiff, has successfully raised £5 million (approximately €5.98 million) in a seed funding round led by Mouro Capital, with contributions from Anthemis, Portfolio Ventures, and others.

Burbank's technology enhances online transaction security by allowing consumers to verify payments using a tap-and-PIN method, significantly reducing fraud risks.

The new payment method is seamlessly integrated into mobile applications, enabling users to tap their card on a mobile device and enter their PIN, mimicking the familiar in-store payment experience.

Justin Pike, founder and CEO of Burbank, underscores the necessity of providing a consistent payments experience across various channels, ensuring that online payments are as secure and recognizable as in-store transactions.

Historically categorized as Card-Not-Present (CNP), online transactions have been prone to higher fraud rates; however, the CPoI solution addresses these vulnerabilities by facilitating Card-Present authentication in online settings.

This funding will facilitate the launch and global expansion of Burbank's innovative Card-Present over Internet (CPoI) payments platform.