More e-tailers doing away with OTPs

MUMBAI: Many e-commerce platforms and mobile apps are set to do away with the second-factor authentication of one-time passwords (OTPs) for regular customers on payments up to Rs 2,000, making online transactions quicker and smoother.

Flipkart has already done so, and others like Swiggy and ride-sharing apps are about to follow.

A key driver for this has been the phased relaxation of rules by RBI—most recently last Friday—on one-time passwords. The central bank had allowed banks to facilitate transactions without OTP for online transactions so long as the merchant can verify the customer.