Full Form of OTP : One Time Password

What is the Full form of OTP?

No:1. The full form of OTP is the One Time Password.
No:2. OTP is a code of four or six digits that is often referred to as a one-time pin or dynamic password.
No:3. It is a form of security password which is effective for the payment or single-use which is used for payment on the mobile phone, one computer, and so on.
No:4. OTP is an alphanumeric or numeric code sequence that is generated automatically and that verifies the user for a financial exchange or authentication session.
No:5. An OTP, specifically a user-created password, is much safer than just a static password, that can then be poor and repeated through different accounts.
No:6. OTPs may substitute or could be used in contrast to, authentication login details to include a level of safety.

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Some Important Points About OTP

No:1. 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.
No:2. During payment, OTP is sent to the register mobile number from the bank before the final move.
No:3. The number is designed to be used once only and could be within a specified period.
No:4. If users do not use the OTP within the time restrictions defined, it will be useless and users must press on the button Resend OTP.
No:5. 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.
No:6. It offers more protection than static passwords like different login sessions and payments such as login or payment passwords, that keep the same.
No:7. 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 which, and the thief could not complete the process.

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