Over the past few years, data infringement has affected many industries. From big multinational organizations to small companies, nobody is safe. Thus, even after so many years, safety always remains a big concern and everybody have their own process of dealing with threats.
One of the processes that have really come up is secure log-ins and cut down on data infringement is 2-factor authentication.
And, with the outburst of smartphones in the Indian market, people are buying more mobiles. E-commerce has been more of M-commerce recently in India. With this occurrence, mobile payment has certainly become an area of improved concentration for security risks.
Why Two-factor Authentication?
Conventionally speaking Single sign on construction is not well protected these days. One report advises that well-known password such as 1234, DOB and all other unsurprising passwords like password and more has directed to 20% hacking activity. And, if hackers club this method with other hacking methods and tools, then the possibility of penetration grows to 55%.
In order to control such events, two factor authentication was one of the best solutions that came up and the implementation rate is astounding. Thanks to OTP authentication, access will be only offered to the people with authorization rather than violating data by illegal users or hackers. Even if the password is stolen, there is a very unusual chance that the mobile phone is stolen at the same time. Even though this type of event takes place these passwords have one-time use and ends within 10-15 minutes after activating.
How is OTP implemented?
Implementation of OTP is quite an easy process. When you begin to use OTP, what actually happens is that when a user enters their login information for a web account they have a checkpoint to traverse.
So, this adds one more layer of safety, so even if your primary password is accessed, you do not have to think about your accounts being accessed if you have a two-factor authentication method.