What Does One-Time Password (OTP) Mean?
A one-time password (OTP) is type of password that is valid for only one use.
It is a secure way to provide access to an application or perform a transaction only one time. The password becomes invalid after it has been used and cannot be used again.
Techopedia Explains One-Time Password (OTP)
- Time-Synchronization: The password is valid for only a short period of time.
- Mathematical Algorithm: The password is generated using random numbers processed within an algorithm.
