What is the full form of OTP?
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What is the full form of OTP?
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The full form of OPT is a One-Time Password. It is also known as a one-time pin or dynamic password. It is a 4 or 6 digit security code that is required for login or any transaction. OTP is valid for a single transaction only on computers, Mobile, Tablet, etc.
OTP is more safe and secure than a static password for the transaction because for every new transaction you need to enter new OTP but static password remains the same for multiple transactions.
Every time the OTP number is different and it is valid only for 3 minutes after 3 minutes OTP will expire and you have to click the "resend the OTP" option to generate new OTP.
Bank send OTP on the registered mobile number in two way
1.Message
2.IVR
Methods of delivering the OTP
One-time passwords can be generated in several ways, and each one is secure, correct and convenient.
1.Mobile Phone
2.Security tokens
3.Web-based method
4.Single-factor authentication
Advantage of OTP
1. Safe and secure payment transactions.
2. It is safe to access OTP on multiple devices, OTP service confirms access on multiple devices with a single account.
3. OTP SMS protects your legal and another personal document, you can set the OTP password method to access your personal document.
4. It is very convenient to use, depending upon customer Preference bank send OTP through Voice call or SMS.
5.OTP service helps to block spammer and other fake activities.
