VASCO Data Security has unveiled its Multi-OTP technology. The new devices addresses those customers in need of securing applications beyond the traditional capacity without the introduction of online transaction signing. The Multi-OTP one-button devices can secure more than just one application each carrying a different OTP.
Areas in which the VASCO product would be most useful include online bankin–customer logon and payment validation, stock trading, cash retrieval at the ATM, and the management of insurance policies
Banks have the power to decide which OTP will be associated with each application. For instance, a different OTP is used for log-in and payment validation where a specific OTP is used for transactions to known accounts.
The device works as follows: A user will press the button and obtain an OTP which most likely will be used to log-on to the online application. If the button is pushed twice a unique message will appear followed by an OTP. When pushing the button three times, another message and OTP will be generated. This would be most likely for high risk transactions only.