Why Is OTP Mandatory for Secure Transactions?
Discover why one-time passwords (OTPs) are essential for enhancing security in online transactions.
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OTP (One-Time Password) is mandatory as it enhances security by providing an additional layer of verification. It ensures that only the intended recipient can complete sensitive transactions or access specific services. This practice protects against unauthorized access and fraud, promoting a safer user experience. Utilizing OTP reduces risks associated with password breaches and strengthens overall account security.
FAQs & Answers
- What is OTP and how does it work? OTP stands for One-Time Password, which is a unique code generated for a single transaction or session to enhance security.
- Why should I use OTP for online purchases? Using OTP adds an extra layer of security, ensuring that only the authorized user can complete the transaction, thus reducing fraud risk.
- Are OTPs always necessary for online transactions? While not always mandatory, OTPs significantly enhance security and are recommended for sensitive transactions or actions.
- How can I generate an OTP? OTPs are typically generated by an authentication app or sent via SMS/email by the service provider, ensuring they are unique and time-sensitive.