OTP Encryption Techniques for Authentication and Transaction Security

OTP Encryption Techniques

Why OTP Required:

          An OTP is more secure than a static password, especially a user-created password, which is typically weak. OTPs may replace authentication login information or may be used in addition to it, to add another layer of security.

OTP tokens are usually pocket-size fobs with a small screen that displays a number. The number changes every 30 or 60 seconds, depending on how the token is configured. For two-factor authentication, the user enters his user ID, PIN and the OTP to access the system. 

          The secret PIN known only between the client and the bank is used for encrypting the OTP. After the encrypted OTP SMS reaches the client’s mobile, the PIN is used again used for decrypting. The plain OTP text should be sent back to the bank will be verified at the server to complete the transaction initiated. The combination of PIN with OTP provides authentication and security. The proposed scheme provides security even if any disputes arise due any possible attacks like internet hacking or mobile thefts.

          SMS-based One-Time Passwords (OTP SMS) were introduced to counter phishing and other attacks against Internet services such as online banking. 

          Keywords: mobile phone, smartphone, banking, OTP, SMS, mTAN, malware, multi-factor, M-banking, Phishing, Malware Trojans, User authentication, One-Time Password, PIN, Fiestal network.

         OTP Messaging Service demand Instant Delivery of SMS backed by secure Technology for online transactions. Nowadays One Time Password’s (OTP’s) are playing a major and appreciable role in online business/banking transactions which makes the users to feel confident about their transactions. SRTS is smartly trying to enhance its productivity by offering OTP SMS Solutions to our customers.

Features of OTP SMS :

• Customized bulk SMS API
• Six alphabetical Sender ID
• 24/7 Delivery
• Real time delivery reports
• API to check delivery of SMS

          Communications such as OTP’s, Confirmation SMS, Promotional Updates etc to registered customers as well as to grab new clients. To test our service delivery rates and API integration process demo please sign up at our website mentioned below with your requirement. One of our executives will get in touch with you for further queries or integration process.

          We provide you with the simple and powerful SMS API which can be used to generate OTP SMS within 5 to 10 sec and thus avoiding waiting time for your customers. SRTS Company is best OTP SMS Service Provider and it is so simple to integrate into your web application/software/app platforms such as PHP, Java, Android, C++, Python, Opencart, Magneto etc.

         Get Free Demo Account with Simple sign up with your requirement details at bulksmsserviceproviders.com 
 In these scenarios, SMS OTPs are mostly used as an additional factor in a multi-factor authentication system. Users are required to enter an OTP after logging in with a user name and password, or the OTP is required to authorize a transaction [12, 32, 40, 38, 36, 19, 20, 7]. The prime example of SMS OTP is the mobile Transaction Authorization Number (mobile TAN or mTAN) that is used to authorize transactions for online banking services. The basic idea behind SMS OTP is that every account in a system is bound to a mobile phone and that the mobile phone is in the possession of the owner of that account.

          Mobile based OTP Tokens: SMS banking is a type of mobile banking, a technology-enabled service offering from banks to its customers, permitting them to operate selected banking services over their mobile phones using SMS messaging. Mobile banking services consist of information inquiry, notifications and alerts, applications and payment transfer. Mobile banking (M-banking) has more advantages than the electronic banking: these devices can be accessed at anytime and anywhere, mobile devices provide more security than personal computers. Even banks are hiring comparatively less number of clerks as m-banking has gained so much popularity. The income and loss account is moreover favourable: for instance bank transaction via clerk’s costs vary more than a bank transaction using mobile banking application. The user is given the privilege of accessing their account for Debit/Credit card information with a single SMS. Any access to the customer’s bank account for online payment transfers, entry into the profile section of the customer will immediately be communicated through SMS and need to be authenticated using OTP (One Time Password) received at the customer’s mobile before proceeding with the transaction. There are other forms of One Time Password Authentication methods like Email Authentication, Browser based Software authentication on a Computer, PKI based authentication, Digital Certificates, etc.