For the transactions conducted over the web using your credit or debit cards, there is now an additional layer of security called VbV and Master Card Security code. But there are many other ways where you’ll use your cards to conduct transactions, over the phone (IVR), through your mobile, using USSD technology etc. Until now, apart from entering your card number, expiry date and those 3 numbers (CVV) at the back of your card (which any body can use if they have your card), there used to be no additional security.
But, starting February 1, Reserve Bank of India has introduced something called as ‘One-time Password’ or OTP, which you’ll need compulsorily, where ever needed. This password will be issued by the card issuing bank to the mobile number registered with them.
What ever your bank is, you can get this password by calling the Customer care number of the bank or by logging in to your Card management website.
You can also get your OTP through SMS but remember that you should use the same mobile number that is registered and on records with the card issuing bank. Or else, the password won’t be sent. For few popular cards, here is the way to receive the OTP by SMS:
Type OTP<space>last 4 digits of your card and send it to 5676791. For example, you may type OTP 9845 and send it to the mentioned number.
ICICI Bank card
Type IOTP<space>last 4 digits of your card and send it to 5676766
HDFC Bank card
Type PWD<space>last 4 digits of your card and send it to 9717465555
Citi Bank card
Type OTP<space>last 4 digits of card and send to 9880752484