CPol puts a "house" terminal in the hands of online buyers

Welsh start-up Burbank has just signed a world premiere on secure online card payments. She presented her latest technology called CPol, for "Card-Present over Internet". This solution allows consumers wishing to make an online purchase to pay for it by using their connected device equipped with a NFC reader like a home payment terminal.

FACTS

• Burbank proposes, with Poland, adapt payment by card and PIN code to online purchases. In concrete terms, this new solution is based on the idea of transforming the smartphone or computer equipped with a NFC drive from online buyers into a home cash terminal.

• To pay for an online purchase, consumers will be invited to:
  • simply approach their card to their connected device equipped with a NFC drive,
  • enter their PIN code for cashing to be completed.

• To validate this method of payment, CPol will first and foremost be proposed by Burbank as a new payment method in its own right on e-commerce sites, alongside historical card or other PayPal or Klarna data entries for example.

• Customers who select this payment method will see a page on their smartphone or connected device screen inviting them to bring their cards closer to their NFC player. Once the card is read, they will then have to enter their PIN code and validate the payment, in the same way as for a contactless payment made on a terminal in store.

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ISSUES

• Sign first : The new solution presented by Burbank represents an innovation in the field of online payments as it proposes a new model of transaction security. In addition to cashing solutions held by traders, connected devices equipped with NFC players from customers themselves can now allow them to make payments independently.

• Meeting a Growing Need : To justify the launch of its new solution, Burbank points out that traders would suffer over $40 billion in losses annually due to online fraud and back-invoicing. And these losses are growing as fraud increases by 69% per year. At the same time, another risk is the false positives that would cost traders $443 billion a year.

PERSPECTIVE

• CPoI is now looking to transform online payments into an experience as secure and natural as in-store, while limiting the risks associated with fraud and back-invoicing. Burbank can in any case boast of proposing an innovative and new alternative solution while the market is now seeking to reduce the fraud caused by the explosion of online exchanges.

• However, beyond smartphones, few computers are currently equipped with native NFC players. But external modules exist.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate