Standard Chartered India has replaced password with OTP for credit card payments online

[moindear]

The next transaction is not going through, same site as before. Had to use another card.
That is why I end up using so many credit cards 🙁
Will wait for their response in fb

 

[Sushubh]

So. First transaction was successful.
One thing though.
Are these companies stupid?
Why is OTP field a password field?
Why cannot I see the numbers I am typing?
It's not like the number is a secret and can be misused?

 

[aviral sangal]

Well most of the bank do it. They mask the OTP that you enter.
But still this is better than what SBI used to have. for any net-banking transactions SBI used to have OTP which you could only enter with the onscreen keypad that they displayed using clicks.

 

[moindear]

Would love a service like paypal/wallet where in I just enter my password for transactions on any card, I guess its not possible in India

 

[Sushubh]

Google Wallet transactions does not require any code. PayPal also does not ask for a code from what I understand.PayZippy Wallet type services are likely to get cash retention facility soon so you can add fund once and use it for multiple transactions.Of course, PayZippy is not growing as fast as I would like it to!

 

[godric_gt]

I always topup my BSNL Prepaid mobile online, never faced issues with timeout.
I tried back to back Aircel and Vodafone recharge with Standard Chartered credit card a couple of days back, received OTP in seconds, no issues 🙂

 

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[Sushubh]

The problem with OTP is that if someone loses their wallet and phone, their cards can now be used online.With password and pin number, they had pretty much limited the amount of damage that could have been done without something that is just in your head. Yes, international gateways can still process the card without OTP or Password. But OTP is in no way securer than a password.

 

[godric_gt]

Agreed, they should combine the OTP with a PIN as the final passcode user needs to enter to complete the transaction. Large corporate organisations already follow this, not sure why the Banks are not implementing this feature.
The same thing can be said about Banks that still allow to complete a transaction using Netbanking password only. With such broadscale theft of passwords happening all Banks should adopt two layers of security verification in their systems.

 

[Sushubh]

dunno. i already hate the idea of typing a pin number for offline transactions. adding more complications to it would basically force me to switch to cash transactions for everything.

 

[genie]

"Sir, you are paying cash ?.....please show Aadhaar card and PAN card and police verification of address" 😀

 

[aviral sangal]

The problem with OTP is that if someone loses their wallet and phone, their cards can now be used online.With password and pin number, they had pretty much limited the amount of damage that could have been done without something that is just in your head.Yes, international gateways can still process the card without OTP or Password. But OTP is in no way securer than a password.

You are forgetting that most of the people still keep their PIN along with their card in their wallet 😛

 

[genie]

You are forgetting that most of the people still keep their PIN along with their card in their wallet :tongue:

Yes...mobile phone can be password protected....but not your wallet 🙂