Burbank, a fast-rising Welsh fintech startup, has secured £5 million in seed funding to roll out its revolutionary Card-Present over Internet (CPoI) technology—set to transform e-commerce payment security by mirroring in-store experiences online.
Eliminating Online Payment Fraud and False Declines
Online fraud remains a costly challenge for businesses worldwide, draining an estimated $40 billion annually. Meanwhile, false declines—when legitimate transactions get blocked—lead to a staggering $443 billion in lost sales each year. Burbank’s breakthrough CPoI solution directly tackles both problems by offering merchants a safer, more reliable way to accept payments online.
Founder and CEO Justin Pike shared, “Our CPoI technology is the world’s first PCI-certified platform that enables true card-present transactions over the internet. Unlike stored credentials or digital wallets, our system allows consumers to tap their payment card on their mobile device and enter their PIN—exactly like they would in-store.”
This innovative approach drastically reduces fraud risks, eliminates false declines, and shifts liability away from merchants. Burbank’s flexible software development kit (SDK) integrates seamlessly into mobile apps or via QR codes, offering retailers an easy path to adoption.
Backed by Industry Leaders and Ready for Global Scale
The £5 million seed round was led by Mouro Capital, with participation from Anthemis (supported by Foxe Capital), Portfolio Ventures, and other notable investors. The fresh funding will help Burbank grow its team, strengthen its technology, and fast-track global expansion.
While the startup’s valuation remains undisclosed, this significant backing signals strong confidence in Burbank’s mission to bring tap-and-PIN security to e-commerce transactions. According to the company, the technology ensures the same level of trust and protection online that shoppers expect in physical stores.
Burbank recently made history by successfully completing the world’s first online card-present transaction during a live demo with payment industry leaders. The milestone showcased the power of CPoI to redefine secure digital payments.
A Personal Story Driving Game-Changing Innovation
Founded in 2021 and headquartered in Cardiff, Burbank is led by payment technology veteran Justin Pike. Pike previously founded MyPinPad and was instrumental in developing PCI standards like SPoC and MPoC. He also pioneered cloud-based hardware security module (HSM) deployment.
The inspiration for Burbank came during the COVID-19 pandemic. Pike recalled, “My mother-in-law struggled with online shopping and asked why she couldn’t just tap her card on her phone. That simple question sparked the idea behind CPoI—bringing the safety and familiarity of in-store payments into the digital world.”
By enabling consumers to authenticate payments anywhere and anytime, Burbank aims to bridge the growing gap between physical and digital commerce.
Reinventing Online Payments with Unmatched Security
While many companies try to patch existing online payment systems, Burbank takes a bold, holistic approach. Its PCI-certified platform replaces outdated fraud prevention tools with a secure, frictionless experience.
Unlike traditional add-on solutions, Burbank’s CPoI technology offers full liability shift protection. This reduces fraud, lowers processing costs, and eliminates chargebacks—all while enhancing customer trust.
Pike emphasized, “Payments should feel the same across all channels. Everyone is used to tap-and-PIN in stores. Now, we’re bringing that simple, secure process online. It’s scalable, easy, and exactly what the market needs.”
With this innovation, Burbank is setting new standards for e-commerce security, enabling businesses to provide better customer experiences while unlocking new revenue opportunities.
Strategic Partnerships Set to Drive Global Growth
Burbank’s future growth hinges on building strong partnerships with acquirers, payment service providers (PSPs), and global payment gateways. The company plans to scale through white-label agreements, making CPoI easily accessible to enterprise customers worldwide.
Manuel Silva Martinez, General Partner at Mouro Capital, commented, “Burbank’s white-label SDK integrates smoothly with existing systems on both iOS and Android. It’s simple, secure, and ready to meet global demand.”
Ruth Foxe Blader, General Partner at Foxe Capital, added, “This is the first protocol that legally shifts liability away from merchants—a game-changer for the industry. The scalability potential is massive.”
As Burbank gears up for international expansion, its groundbreaking technology is poised to revolutionize online commerce, ensuring safer and more seamless transactions for businesses and consumers alike.
