The United Arab Emirates’ second-largest bank
by assets, National Bank of Abu Dhabi (NBAD), has launched One Time
Password (OTP) – a security service that sends cardholders a
dynamic code via SMS for each online purchase with the aim to
“further increase” safety measures against possible fraud.

NBAD’s OTP is a six-digit code, which adds a
second-level of authentication each time NBAD cardholders perform
an online shopping transaction.

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Navneet Dave, head of cards at NBAD, said the
lender is the first bank to implement an OTP for online
shopping.

“NBAD OTP enhances NBAD security measures by
moving to a dynamic password and adds convenience as cardholders
would not be limited to remembering their security password every
time they want to make an online purchase.

“Security and measures against fraud is a key
pillar of NBAD and we continuously adopt means that balance
convenience and security for our customers,” added Dave.

 

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