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Additional Security For Telephonic Transactions
Posted on: 04/Jan/2011 3:54:46 AM
Following the Reserve Bank of India (RBI) regulation, effective January 1, 2011, all transactions that a customer makes through a mobile or call center (IVR) will require an additional password. That is, if you are booking any Monster product through any call center and chose the IVR-based payment option, you will be required to enter an additional One Time Password (OTP) to be issued by your bank.
What is OTP?
An OTP or One Time Password is a numeric key to make your telephonic transaction (IVR) or mobile payments more secure. Just as you have a password for net banking and online payments, an OTP is a secure password for payments you make through our secure IVR.
Who will issue the OTP?
The OTP will be issued by the bank that issues your credit card. You will need an OTP for each credit card you hold.
For how long will the OTP be valid?
For additional security, RBI requires that customers generate a new OTP for each IVR transaction. Depending on the bank, each OTP will be valid for between 30 minutes to 12 hours
Getting an OTP:
Based on the information available with us as this point, we have compiled a list of banks and their processes for your reference:
Bank Process to get the OTP:
HDFC -SMS `PWD XXXX` to 9717465555, where XXXX are the last 4 digits of your credit card.
HDFC -SMS `PWD XXXX` to 9717465555, where XXXX are the last 4 digits of your credit card.
Citibank - SMS `OTP XXXX` to 52484 or 9880752484, where XXXX are the last 4 digits of your credit card.
SBI- SMS `OTP XXXX` to 5676791, where XXXX are the last 4 digits of your credit card.
ICICI Bank- SMS an `IOTP ` to 5676766
Post your requirement - We will connect with the right vendor or service provider
