One Time Password Verification!

Its great to see RBI finally implementing something to prevent misuse of credit cards on transactions over telephone / IVR or Mobile application! Was always wondering why RBI can't come up with a clear policy to prevent misuse. RBI is implementing a One time password method, wherein before one makes a Credit Card Transaction over the telephone/IVR or mobile applications , say booking a Air Ticket, a one time password needs to be obtained via SMS / hotline. So be prepared and get to know the methods! This for sure would prevent misuse of cards to a greater extent in India.

Ensure that you have registered your mobile number correctly with the respective banks! This is being implemented from 1st of Feb 2011.

I would have preferred this service to be provided by Visa / Master rather than individual banks. That way, one has to remember only couple of ways to get the OTP.

For me the glitch is that my favourite mobile shop application NgPay is not going to have a hassle free shopping method anymore! Have to wait and see how they are going to integrate this OTP with their application.

Following are from different mailers I got from respective banks

Citibank Cards:

Getting an OTP:

Please SMS OTP XXXX (Last 4 digits of Debit/Credit number)

to 52484 or 9880752484 to generate an OTP.

HDFC Bank Cards:

Send an SMS ‘PWD 1234’ to 9717465555 from your registered (with Bank) mobile number
(Note: 1234 are the last 4 digits of your HDFC Bank Credit Card number)

You will receive an SMS with the OTP on the same number.

ICICI Bank Cards:

SMS

Step 1 -	Send IOTP Your 16-digit ICICI Bank Credit Card Number to 5676766
Step 2 -	You will receive the OTP on your Registered Mobile Number and e-mail ID

Online-Banking

Step 1 -	Go to www.icicibank.com.On the bottom right side under'Cards' section: click on 3Dsecure option
Step 2 -	Choose the 'IVR-IOTP' Option
Step 3 -	Enter your ICICI Bank Credit Card Number, valid from and date of birth
Step 4 -	Generate OTP Request
Step 5 -	You will receive the OTP on your Registered Mobile Number and e-mail ID

Real Time OTP generation

Step 1 -	At the time of the IVR transaction, enter ICICI Bank Card Number, Expiry Date and CVV Code
Step 2 -	You will receive the OTP on your Registered Mobile Number and e-mail ID