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UAE Banks Ditch SMS OTPs for App Security
25 Mar
Summary
- UAE banks are phasing out SMS/email OTPs for transactions.
- Payments will require authentication through banking apps.
- The UAE Central Bank leads this security upgrade.
Digital banking security in the UAE is set for a major enhancement as banks begin to phase out traditional one-time passwords (OTPs). This significant shift, mandated by the UAE Central Bank, will move authentication away from SMS or email-based OTPs.
Instead, users will be required to authenticate their transactions directly through their respective banking applications. This move promises a more secure and efficient payment process for all customers. The full implementation of this new security protocol is anticipated in the upcoming weeks, marking a substantial upgrade in the nation's digital financial infrastructure.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
