BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Odd Transaction Password
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Owner is Trading Pass code
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One Time Password
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One Time Pincode
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Detailed explanation-1: -What is an OTP? A One-time Password is a numeral code sent to your phone while carrying out an online card transaction. It helps a bank verify a credit card transaction. OTPs are now used to verify debit card transactions and act as resilient layers of security for online transactions.
Detailed explanation-2: -What is OTP Number? OTP also is known as a One Time Password is unsystematically generated and sent to your registered mobile number to validate the specific transaction. It offers an enhanced layer of security for the card and online transactions.
Detailed explanation-3: -OTP is a unique, temporary code of four to six digits randomly generated by the bank to authenticate a credit card transaction. In other words, the credit card transaction cannot be completed without it. It is sent on the registered mobile number and email ID and is usually valid for only 10 minutes.
Detailed explanation-4: -OTP means One Time Password: it’s a temporary, secure PIN-code sent to you via SMS or e-mail that is valid only for one session.
Detailed explanation-5: -When is OTP generated? Once you fill in your account details to pay for an online transaction, you get redirected to a page where you have to click on get ‘My OTP number’. At this stage, your bank sends you the instant OTP number via SMS on your registered mobile number.