3D Secure is a protocol for online card payments. It involves a third domain (provided by Touchtech Payments, an Irish technology company) on top of the card issuer (Mastercard) and acquirer (bank of the merchant) domains to provide an extra layer of security.
Using machine learning, the mobile bank has built a proprietary risk model to categorize transactions and when necessary request additional verification from the customer, without the customer having to remember an additional password.
Thus, every ecommerce payment made with an N26 Mastercard will go through an instant evaluation by the company’s proprietary risk model. This risk model uses machine learning to analyse the specific spending behaviour of each of our customers. If the algorithm notices a transaction that falls out of the user’s regular pattern, it will be challenged and will require extra verification.
This will be available to N26 customers in all markets with the iOS and Android app versions 3.5.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now