NBAD First Bank to adopt Dynamic One Time Password for Online Purchases
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, launched a security service that sends cardholders a dynamic code via SMS for each online purchase to further increase the cardholder’s safety measures against possible fraud.
NBAD’s One Time Password (OTP) is a 6-digit code which adds a second-level of authentication each time NBAD Cardholders perform an online shopping transaction on a Verified by Visa / MasterCard SecureCode participating website. One-Time Password (OTP) is sent via SMS (on the cardholder’s registered mobile with the Bank). Those Cardholders who have an nbadOnline account can also use their nbadOnline RSA Token.
“The National Bank of Abu Dhabi is the first bank to implement the dynamic One Time Password for online shopping and this reflects NBAD’s continuous endeavour to provide our credit cardholders the most advanced technology in offering convenience and security,” says Navneet Dave, the Head of Cards at NBAD. “NBAD One Time Password enhances NBAD security measures by moving to a dynamic password and adds convenience as cardholders would not be limited to remembering their security password every time they want to make an online purchase.”
The One Time Password replaces the existing static Verified by Visa / MasterCard SecureCode password which previously required an activation code as well.
NBAD’s security has been one of the strongest in the industry. nbadOnline banking requires a dynamic code generated by an electronic token, which is in addition to the password required for login.
“Security and measures against fraud is a key pillar of NBAD and we continuously adopt means that balance convenience and security for our customers,” says Mr. Dave.
NBAD offers a range of card products, each suiting consumers’ different lifestyles and choices without any annual fee – free for life. For each dirham of purchase, NBAD credit cardholders earn NBAD Stars which can be redeemed at a variety of merchants, including Skyward Miles and flydubai e-vouchers.