[vineetmanghani]

Here are some of the mailers regarding OTP I've got:

[Hatari]

There is already an extra layer of security with VbV (Verified by Visa) for online transactions. It is a 1 time password at the Visa site.

Really feel this is enough.

In addition, I get an alert from HDFC CC for any transaction above a certain limit on the card.

OTP is going to be a big hassle.

[Newpunter]

Originally Posted by Thad E Ginathom

Surely I must have missed something? So all I need. to do that, is a credit card number and the appropriate phone number of the issuing bank?

How is that secure?

The phone number from which you send the SMS has to be registered with the bank and the OTP will be sent only to the registered phone number and e-mail id.

[Gansan]

Originally Posted by Hatari

There is already an extra layer of security with VbV (Verified by Visa) for online transactions. It is a 1 time password at the Visa site.

Really feel this is enough.

In addition, I get an alert from HDFC CC for any transaction above a certain limit on the card.

OTP is going to be a big hassle.

I use only verified by visa / Netsafe on my HDFC card for online transactions too.

But this OTP is not for online buys, but IVR based (phone banking) transactions.

[tsk1979]

I have never used IVR ever. So I do not think I even care about this one time password thingy. I use credit cards only in online banking and I do have the "Verified by VISA" or "Mastercard Securecode" thingy to protect that.

[Newpunter]

Originally Posted by tsk1979

I have never used IVR ever. So I do not think I even care about this one time password thingy. I use credit cards only in online banking and I do have the "Verified by VISA" or "Mastercard Securecode" thingy to protect that.

Isn't the "Verified by VISA" thing compulsory now for any online transaction? I thought the RBI has mandated this for all online transactions. How do you manage without this ?

I did use the IVR to book a hotel on Yatra.com a couple of times. I was a bit concerned that the operator could see my card details ( although it was probably unwarranted ), but it is good to have an OTP to secure this transaction.

[Thad E Ginathom]

Originally Posted by Newpunter

The phone number from which you send the SMS has to be registered with the bank and the OTP will be sent only to the registered phone number and e-mail id.

I had begun to think that might be the case after posting.

Assumes one has a mobile phone, for a start. Or,for those that have several, that ione has the right one to hand.

[tsk1979]

Originally Posted by Newpunter

Isn't the "Verified by VISA" thing compulsory now for any online transaction? I thought the RBI has mandated this for all online transactions. How do you manage without this ? .

Well its a password which remains same. So I have this password now, and I can use this for every transaction. No need to re-generate mastercard securecode or verified by visa password for each transaction.

In case of Axis Bank credit cards, the one-time password will be sent to our registered mobile via a flash message and SMS after entering the credit card details in IVR.