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OTP and a New Opportunity for E-Wallets

OTP and a New Opportunity for E-WalletsOTP and a New Opportunity for E-Wallets

Rules announced by the Central Bank of Iran to make one-time password obligatory can help foster the business of e-wallet startups, says a board member of Tehran Chamber of Commerce.
"When the OTP is launched, more people will start looking for electronic wallets as they might prefer to use static passwords, which is expected to foster the business of these startups in long term," IBENA quoted Majid Hosseini as saying. 
The measure is designed to considerably improve the safety of online transactions, but could create some challenges for the ecommerce sector.

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