OTP is a single use password that is used for user authentication. This post will discuss about what is One Time Password, OTP meaning in Text, Email and Online Bank, types, how it is generated, how it works, applications, advantages and disadvantages.
What does OTP Mean | OTP Meaning
OTP stands for One Time Password or One Time Pin. Authentication using OTP is very common in our daily life. When you try to login to any payment related application, it requires “One Time Password†Entry. Some applications or websites use it as confirmation for transactions.
Fig. 1 – Introduction to One Time Password
It authenticates the user for a single login attempt. It is very important in the process of verifying the identity of user. It adds a second layer of security in the verification process. OTP generally comprises a string of numbers or characters. A backend algorithm is in place that generates a unique string of numbers each time, taking time-based data and contextual information into account. No two One Time Password’s are similar.
Fig. 2 – OneTimePassword Verification and Authentication
OTP (One Time Password) Types
There are two types of One Time Password’s. They are:
- Software One Time Password
- Hardware One Time Password
Software OTP
It is a One Time Pin (Password) generated by the mobile applications and sent to your mobile as SMS or email. It is event based One Time Password i.e. it requires trigger to generate it. Here the trigger is the User. The user has to request for OTP to be sent on his mobile phone. Examples of One Time Password (Software) include: Payment related applications – One Time Pin is generated when user tries to enter credit/ debit card details while online shopping.
Hardware OTP
Hardware Pin or password is generated by a physical device (hardware device/ token). It is a time based OTP i.e. values are obtained for a short period of time. It might change to a new value even before the user could enter his password/ pin. Examples of One Time Password (hardware) include: Banks provide security token for online banking, many companies provide hardware token/ key to login to their secured network.
Fig. 3 – Hardware OTP
OTP Meaning in Text Message| What does OTP Stand forÂ
You must have received the One Time Passwords for various login attempts and for making transactions at some point. It is the one-time password auto generated on request by an individual. As a security measure against the rising instances of cybercrime, many companies have made OTPs necessary.
Fig. 4 – OTP Meaning in Text Message
You would receive a set of 4-6 numbers as SMS (Text Message) on your mobile phone that you need to add in the designated place for One Time Password on the portal, app, or website to move ahead. Some apps and websites have it in place as a two-factor security system for login.
OTP Meaning in Email
You would receive One Time Passwords on email at times, the purpose of which is the same as that received via SMS. However, the format of the email One Time Pin will be slightly different from that of the SMS. Email OTP is sent for retrieving passwords and web authentication of bank accounts.
Fig. 4 – OTP Meaning in Email
How is OTP Generated
OTPs are generated using mathematical algorithms or Random Number Generation methods within the systems. Every time a user tries to log in, they receive OTP on their registered mobile number or Email ID. This One Time Password is generated based on the exact moment of generating, and other contextual information.
This OTP is unique and has to be used in the space given in the app or on the web portal. Once that happens, the user can log in. It is like a two-step security process. Most of the time, these OT Passwords are time-based and expires after a few minutes. In that situation, you would have to regenerate the One Time Pin again from the option available.
How OTP (One Time Password) Works
One Time Password authentication works on the principle of request and response method. The User provides login details in the application. “OTP generate” request is raised to MAG (Managed Access Gateway).
MAG generates One Time Pin and stores the User details in the Database for Validation purposes. The generated One Time Password is sent as SMS to the User on his mobile. The user copies and enters the same in the valid field.
MAG OTP Policy compares the user entered One Time Password with the one it has generated and stored in the Database. If it is valid, User is given access to the protected Application Programming Interface else the access is denied.
Fig. 5 – Request and Response Principle of OneTimePassword Generation
Applications of One Time Password
The applications of OTPs are in the following fields:
- OTP can be used for securing payments.
- Some companies use it as a confirmation for transactions.
- For securing documents online.
- For delivery of retaining products such as Amazon products to your doorstep.
- As bank portal authentication.
- To set and reset passwords.
- If you get locked out of your accounts, OTPs to registered mobile numbers or Email IDs can help you log in.
- Allowing the connection of multiple devices with one account.
Advantages of One Time Password
Some of the advantages of OTP are listed below:
- Two-factor authentication is possible. It allows the users to keep their information secure online.
- It prevents frauds. The OTPs are known to prevent online scammers from getting access to your account.
- It gives you complete control over your accounts and accesses.
Disadvantages of One Time Password
Some disadvantages are:
- If someone has access to your registered Email ID and phone, they can access your accounts with the OTP received on them.
- OTPs are generally time-sensitive, and you have to use them within a small window.
Also Read: What is CAPTCHA Code - How it works, Design, Types, Applications Common Gateway Interface (CGI) - How it Works, Features & Applications Advantages and Applications of 4G Phone Network Technology
Thanks for your feedback and I need SMS for my asking.
And I need my one time password .
Great post! I always saw OTP used but never really understood its full significance until now. It’s interesting how vital it is for security in our online transactions. Thanks for breaking it down!
Great post! I always wondered what OTP really meant in different contexts. It’s super helpful to know how it’s used in texts, emails, and especially online banking for security. Thanks for breaking it down!
Great post! I’ve always wondered about OTPs and their significance. Now I have a clearer understanding of how they work in emails and online banking. Thanks for breaking it down!
Great article! I always wondered what OTP really meant in different contexts, especially with online banking. It’s good to have a detailed explanation that clarifies its importance in security. Thanks for breaking it down!
Great explanation of OTP! It’s so important to understand its role in enhancing security. I never realized how commonly it’s used across different platforms. Thanks for breaking it down!
Great article! I never really understood what OTP meant beyond the basics. Your explanations clarified its significance in different contexts, especially with online banking. Thanks for breaking it down!
Great explanation of OTP! It’s so important to understand its significance, especially with online banking and security. I didn’t realize how often it’s used beyond just banking. Thanks for breaking it down!
Great post! I never realized how essential OTPs are for online security until now. It’s fascinating to see how they are used across different platforms. Thanks for breaking it down!
Great breakdown of what OTP means across different platforms! It’s so important to understand how it works, especially for online security. Thanks for clarifying its significance in emails and banking too!
I found this post really informative! I always knew OTP stood for one-time password, but I didn’t realize how crucial it is for security in online transactions. Thanks for breaking it down so clearly!
Great explanation of OTP! I had always seen it used but never fully understood its role in security. It’s good to know how important it is for protecting our information online. Thanks for shedding light on this topic!
Great post! I learned a lot about OTPs and their importance in securing online transactions. It’s fascinating how a simple code can add an extra layer of security to our digital lives. Thanks for breaking it down so clearly!
Great explanation! I always knew OTP stood for One-Time Password, but it’s interesting to see how it’s used across different platforms. Your examples really helped clarify its importance in security. Thanks for the insights!
Great breakdown of OTP and its importance in securing our online activities! It’s so crucial to understand how it works, especially with the increase in digital transactions. Thanks for shedding light on this topic!
Great article! I always wondered what OTP stood for in different contexts. It’s interesting to see how it’s used in text messages, emails, and online banking. Thanks for breaking it down so clearly!
Great explanation of OTP! I always wondered about the different contexts in which it’s used. Your breakdown really clarifies its importance, especially in online banking. Thanks for sharing!
Great explanation of OTP! I always knew it stood for One-Time Password, but your post really clarified its significance in online banking and security. It’s fascinating how it helps protect our accounts. Thanks for sharing!
The crux of your writing whilst appearing agreeable originally, did not sit perfectly with me after some time. Someplace within the sentences you actually were able to make me a believer but just for a very short while. I still have got a problem with your jumps in logic and one would do well to help fill in all those gaps. In the event you actually can accomplish that, I could certainly be fascinated.
Great post! It really clarified what OTP means across different platforms. I always wondered about its importance in online banking and security. Thanks for breaking it down!
Great post! I always wondered what OTP really meant in different contexts. It’s interesting to see how it plays a role in security measures across various platforms. Thanks for breaking it down!
Great explanation of OTP! It’s interesting how crucial it is for our online security. I never realized how it works across different platforms. Thanks for breaking it down!
Thanks for breaking down what OTP means! It’s so important in our digital lives, especially for security. I had a vague idea but didn’t realize how widespread its use is in emails and online banking. Great insights!
Great post! I found the explanation of OTP really helpful, especially in understanding its importance for online security. It’s amazing how such a simple concept can provide an extra layer of protection. Thanks for breaking it down!
Great explanation! It’s interesting how OTPs enhance security across different platforms. I didn’t realize how versatile they are beyond just banking. Thanks for breaking it down!
Great post! I never realized how widely OTPs are used across different platforms. It’s fascinating to learn about their importance in ensuring security. Thanks for breaking it down so clearly!
Thanks , I have recently been looking for information about this subject for ages and yours is the greatest I’ve discovered till now. But, what about the conclusion? Are you sure about the source?
Great explanation of OTP! I always wondered what it actually stood for and how it worked in different contexts. Thanks for breaking it down so clearly!
Great post! I always wondered what OTP stood for in different contexts. It’s interesting to see how essential it is for security in online transactions and communication. Thanks for breaking it down so clearly!
Great explanation of OTP! It’s really helpful to understand its importance in online security, especially for banking. I never realized how widely it’s used across different platforms!
Great post! I never fully understood the importance of OTPs beyond just a quick text. It’s fascinating to see how they enhance security in various scenarios, especially with online banking. Thanks for breaking it down!
This post really cleared up my confusion about OTPs! I always thought it was just a random security measure, but now I understand how important it is for online safety. Thanks for breaking it down in such a simple way!
Great breakdown of OTP! I always wondered about its different uses. It’s interesting how it’s such a crucial part of online security. Thanks for clarifying its meaning in various contexts!
Great article! It really clarified the various uses of OTP across different platforms. I especially appreciated the examples you provided for online banking. It’s so important to understand these terms in our digital age. Thanks for the insights!