![]() ![]() MFA in e-commerce protects sensitive financial information and user accounts. It is also used to ensure doctors and hospitals comply with the Health Insurance Portability and Accountability Act (HIPAA).Į-commerce: OTP authentication helps e-commerce companies provide secure and convenient shopping experiences for their customers. Healthcare: OTP is widely used among healthcare organizations for employee identity access management (IAM). Since MFA is especially useful for securing sensitive data and high-value transactions, OTPs are particularly valuable in industries where privacy and security are of utmost importance. Since authenticator apps work offline and entirely within user’s devices, they are considered extremely secure. With authenticator app OTPs, codes are generated by mobile applications like Google Authenticator. Certain organizations prefer the use of hardware keys since they operate offline and are inaccessible to fraudsters. Hardware key OTPs use physical devices to generate one-time codes with the push of a button. Users enjoy the added security of platforms like WhatsApp because they automatically encrypt messages. ![]() Messenger app OTPs are sent via popular messaging apps like Telegram, WhatsApp, and Viber. While email OTP adds an extra layer of security since users must login to their inbox, some question this MFA method since emails aren’t tied to a specific device. Voice OTP is considered secure since the code is delivered audibly directly to a user’s number.Įmail OTPs are sent directly to user’s inbox. In voice OTP verification, a code is delivered to the user through an automated voice message over a phone call. SMS OTP is extremely popular due to its speed and convenience. With SMS OTP, a unique and time-sensitive code is sent to a user's mobile device via a text message. One-time passwords fall into the “something they have” category because most OTPs can only be accessed directly from user devices, such as smartphones.ĭepending on your MFA policies and user base, there are several OTP delivery methods available. In MFA practices, forms of proof include something users know, something they have, or something they are. To bring it back to MFA, OTPs are used as a second authentication factor in addition to user names and passwords. Since OTPs can only be used one time, they protect against the dangers of compromised credentials - such as lost or stolen passwords. The acronym “OTP” stands for both “one-time password” and “one-time passcode.” An OTP is defined as an automatically generated sequence of characters that is only valid for a single login session or transaction. Similarly, MFA is very helpful when people access online accounts from risky locations like airports and unknown networks. While MFA is applicable for a wide range of uses, it has proven invaluable in scenarios where users access sensitive data and conduct high-value transactions. As Microsoft explains, MFA can “prevent 99.9 percent of attacks on your accounts.” Not only is MFA extremely popular, but it is also highly effective. In turn, MFA is a practice that requires users to verify their identity by providing at least two pieces of evidence from different sources. OTP is an example of multi-factor authentication (MFA). ![]()
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