Business And Markets
0

OTP Not Mandatory For Minor Transactions

OTP Not Mandatory For Minor Transactions
OTP Not Mandatory For Minor Transactions

The Central Bank of Iran published a note on its website to clarify ambiguities about the one-time password that will soon be offered by banks. 
It covers a range of issues pertaining to the single-use passwords, addressing clients concerns over the fact that the new measure may disrupt their card payment transactions. 
CBI says OTP is needed for transactions above 5 million rials ($33) and allows clients to use their current static passwords for transactions below that amount. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com