The full form of OTP is One Time Password. OTP, a one-time pin or dynamic password, is a four- or six-digit code. It is a type of security password that is effective for payments or single-use payments on a single computer, mobile phone, etc.
OTP is an automatically produced alphanumeric or numeric code sequence that authenticates users before a transaction or authentication session. A user-generated password, or OTP, is significantly safer than a static password because it cannot be reused across several accounts. OTPs could be used as an alternative to, or instead of, authentication login details to include a level of safety.
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- OTP adds a layer of security when using your credit or debit cards, making online purchases, paying bills online, recharging your smartphone, etc.
- Before completing the transaction, the bank sends an OTP to the registered mobile number during payment.
- The number can only be used once and may only do so within a certain time frame.
- The OTP will be useless if it is not used within the specified time frame, and users will need to click the button to Resend OTP.
- Additionally, OTP is created randomly, making it possible to deduce its generation. Additionally, once used, OTP is useless and cannot be used again.