Today I was booking my Dad’s airline ticket over the phone and in that the airline representative asked me for an OTP for making credit card payment. I had heard of this OTP before also and had done transactions with this but then I thought might as well write a small post on the ways to get OTP from different banks since they all have slightly different ways. I use HDFC Bank, ICICI Bank, CitiBank, State Bank of India credit cards so I will be sharing about these as of now.
From February 1, 2011 the Reserve Bank of India ( RBI ) made it mandatory for all Mastercard / Visa credit cards transactions over the phone to have an One Time Password from the card issuing bank. This step is to favour the credit card users and to avoid fraudulent transactions thereby safeguarding the customers. This OTP is required when we want to use our credit card for bookings over the phone, IVR, mobiles, etc. All banks send the OTP as a SMS when you send a request to them as SMS or phone call. The OTP is valid only for 1 transaction and the validity period for it varies from bank to bank.
Following are the ways to get OTP from different banks I use –
- HDFC BANK :
1 – Call customer service to register the mobile number.
2 – Send an SMS ‘PWD <last 4-digits of HDFC Card Number>’ to 9717465555 from your registered mobile.
3 – You will receive an SMS with the OTP on the same number.
4 – More Details.
Continue reading “One Time Password (OTP).”