A significant breakthrough in payment technology is taking place today as industry executives gather to witness the world’s first online card-present transaction. The innovation, known as "Card-Present over Internet" (CPoI), introduces tap-and-PIN authentication to online purchases for the first time, bringing a familiar and secure payment method into the digital space.
Developed by Welsh company Burbank, CPoI enables merchants to process online transactions as securely as in-store payments. By requiring customers to physically tap their payment card against a mobile device and enter their PIN, the technology aims to reduce fraud and eliminate false positives, a long-standing issue in e-commerce.
Burbank’s CPoI technology reduces online payment fraud
Online merchants currently lose over $40 billion annually to fraud and chargebacks, with payment fraud increasing by 69% per year. Additionally, false positives—where legitimate transactions are mistakenly flagged as fraudulent—cost merchants an estimated $443 billion annually. According to Burbank CEO Justin Pike, 65% of blocked transactions fall into this category, and 41% of affected customers never return to the retailer.
“With CPoI, we are aligning in-store and digital payments,” said Pike. “Our goal is to transform e-commerce by significantly reducing fraud and eliminating false positives—issues that have long plagued online sellers.”
How Burbank’s innovation enhances customer experience and merchant revenue
By ensuring that only the cardholder can complete a transaction, CPoI minimizes fraud risks while enhancing the customer experience. It also removes the need for complex anti-fraud systems, streamlining operations for online merchants. Consumers benefit from a seamless and secure online checkout, eliminating concerns over storing card details or navigating complicated payment processes.
The future of secure e-commerce transactions with Burbank
As the e-commerce landscape continues to evolve, CPoI represents a step toward more secure and frictionless digital transactions. With this milestone, Burbank is setting a new standard in online payments, promising greater consumer confidence, improved merchant revenues, and a safer shopping experience for all.
