A One-Time Password (OTP) is a temporary, dynamically generated numeric or alphanumeric code valid for authenticating a single transaction or login session. OTPs enhance security by reducing the risks associated with password sharing and credential theft.
Use case/ examples of One-Time Password (OTP)
Login verification: Requiring the use of a code from an authenticator app to verify a user's identity when there is a login attempt from a new device or location.
Transaction confirmation: Sending time-sensitive codes via SMS to authorize payments, fund transfers, or sensitive account modifications.
