Emirates NBD Bank announced that it would shortly replace the SMS OTP system with a quicker, smarter, and more secure method of online transaction authentication.
Customers will receive a push notice on their app that will direct them to the ENBD X app, according to the Dubai-based lender, allowing them to authenticate online purchases.
One-time passwords (OTPs) for online transactions will no longer be sent by UAE banks via email and SMS.
All forms of online transactions including domestic and international money transfers will be affected by the move. Banks will use in-app confirmation tools for authentication using mobile banking apps in place of OTPs.
