All Merchants in India are required to collect an OTP (One Time Password) for Transactions – IBR

 

Please note:
As per the guidelines of Reserve Bank of India (RBI), starting from February 1, 2011 all merchants in India are required to collect an OTP (One Time Password) in addition to information written on the Credit cards for all transactions done over phone (IVR). All banks in India are providing OTP directly to their customers for a secure transaction over IVR. 

OTP brings multiple benefits for you and you will feel more secure while doing IVR transactions over phone. With OTP you are fully safe of fraudulent transactions made through Credit Card. So, use OTP and enjoy secure purchases over the phone (IVR). Just call your bank and get an OTP for your Credit Card.

Any doubts? Read below:
Q. What is One Time Password or OTP?
A. OTP is a numeric password which is valid for one time use only. As per Reserve Bank of India (RBI) guidelines starting from February 1, 2011, all merchants in India are required to collect an OTP in addition to information written on the Credit cards for all transactions done over phone (IVR). OTP is issued by the bank directly to the customer. The process of obtaining the OTP is described in later part of this document.
Q. When do I require an OTP?
A. The OTP is required starting from February 1, 2011 onwards whenever you make a purchase by calling MakeMyTrip Call Center over phone. For such purchases you need to dial in the OTP in addition to your Credit Card Number, Expiry Date and CVV.
Q. How can I obtain an OTP?
A. To obtain the OTP you should first register you mobile number with your bank. It is advisable to get it done as soon as possible (before February 1, 2011). The process of registering the mobile number varies from bank to bank; hence its best to call the customer support of the bank that issued your Credit Card to know more. 

Once your mobile number has been registered with your bank, you can obtain an OTP by following the process described in the table below. Your bank will send the OTP to the registered mobile via SMS.

Important Notice for online and merchant IVR transactions:
Starting from February 1, 2011 all payments made via Master/Visa credit cards over phone (IVR system) will require an additional One Time Password (OTP). This requirement has been made mandatory by the Reserve Bank of India (RBI).

Introduction of OTP is intended to reduce the possibility of fraudulent transactions and would safeguard the customers. A customer can obtain the OTP by either calling his / her bank over phone or sending a SMS to his / her bank. The OTP is valid for only one transaction, and it expires within 2 to 6 hours of issuance (validity duration depends on the bank).

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      • Om
      • February 6th, 2011

      Thanks. I am glad that you liked it !

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