 "In a first, Mastercard enables one-time password-less transactions")
Mastercard has enabled users to do online transactions without the need to authenticate a one-time password (OTP) — something it says has been done for the first time globally.
A new mobile-first authentication solution called Identity Check Express, rolled out by the global payments major on Tuesday, allows transactions below Rs 2,000 to be made without an OTP, with customer details automatically being provided to the seller every time after the first purchase. For transactions above Rs 2,000, a unique transaction personal information number can initially be created by the user, which later removes the need for OTPs.
Mastercard’s analysis
