OTP Diminishes Appeal of Mobile Payment

Mobile transactions declined significantly over the past calendar month (ended Feb. 19) largely due to hassles of using one-time-passwords.
A total of 96.42 million transactions were handled by mobile phones last month, down from 114.53 million a month earlier to register a solid 18% decline, according to a report by the national payment settlement network, Shaparak.
The sharp decline is ascribed to the compulsions imposed by the Central Bank of Iran on bank customers to use OTP instead of static passwords.  
Using OTP is problematic for many people as they were required to install special applications on their smart phones. Some others simply didn’t own a smart phone to be able to use the service.