What is the Full Form of OTP
Full Form of OTP
The full form of OTP is “One Time Password”. A one-time password, also known as a one-time PIN, one-time authorization code, or random password, is a password/code that is valid for only one login session or transaction time, on a computer system or other digital device. A one-time password (OTP) is an automatically generated numeric or alphanumeric string of characters that authorize a user for a single transaction or login session.
What is OTP?
OTP stands for One Time Password. OTP is a 4 or 6-digit code which is also known as a one-time pin or random digit password. It is a type of security password that is valid only for a single-use or transaction time and on a single computer, mobile device, etc., which is used for the transaction.
It provides an extra layer of security while using your debit cards, and credit cards for online transactions such as OTT recharge, mobile recharge, online shopping, paying bills, etc. It is sent by your bank to your registered mobile number during the transaction just before the payment step. Know more about full form of OTP at Wiki.
Advantage of OTP
In the previous section, we have seen the full form of OTP. We are going to see some of the major advantages of OTP here. Below we have listed some of the important benefits of OTP.
- During payment, OTP is sent to the registered mobile number from the bank before the final move.
- The number is designed to be used once only and could be within a specified period.
- It offers more protection than static passwords like different login sessions and payments such as login or payment passwords that keep the same.
- Even if someone has your bank account info, login ID, & password, as the OTP would come to your smartphone, he will not be able to use your account without it, and the thief could not complete the process.
- OTP offers an additional layer of protection when using your credit or debit cards, online payment including smartphone recharge, shopping online, payment of bills, and so on.
- If users do not use the OTP within the time restrictions defined, it will be useless and users must press the button Resend OTP.
- Besides, OTP is generated randomly, so that it can be guessed it becomes useless once it has been used once, so it could not be used again.
How does OTP work?
We have covered the full form of OTP and its uses of OTP. OTP or one-time password generated during the completion of any transaction online. OTP is highly secure. Because it is automatically generated by the system, and there is no human intervention from anywhere. The value of a one-time password is generated by the Hashed authentication code algorithm and moving factors such as time-based information or event. So, let’s say you are doing a banking transaction. So during that OTP is generated. No one else knows the OTP. No one knows your bank staff. When you enter the OTP you have received during any of your transactions on the system, the system matches it with the generated password. Here we have explained the full form of OTP.
How can OTP be obtained?
In this article, we have covered the full form of OTP and the related information of the OTP. You can get OTP in different ways to use different services on different platforms. Following are the four ways you can get OTP to complete your transaction-
- s.m.s. through
- By email
- By voice call
- By post
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