Starting Friday, banks in the UAE will start phasing out the use of one-time passwords (OTPs) sent via SMS or email for all electronic and financial transactions, including both domestic and international transfers, to boost digital security.
Instead, customers will be required to authenticate transactions through their bank’s smart mobile application.
According to an official document obtained by Al-Emarat Al-Youm, the move follows new directives from the Central Bank of the UAE.
The document states, “Based on instructions from the Central Bank of the UAE, please note that the receipt of one-time passwords via text messages or email will be gradually phased out. Customers can now complete electronic transactions with ease via the smart application by selecting the ‘Authentication via App’ feature.”
The shift is part of ongoing efforts to enhance digital security and streamline user experience in online banking.
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