Route to no OTP being developed

Cloud communications company Route Mobile Ltd is in discussions with large e-commerce and payment platforms to enable a solution that will authenticate financial transactions without the need for a one-time password (OTP), a top executive said.

- Gulveen Aulakh

At the same time, he said it would be safe since the solution would arm telcos with a mechanism to identify the nature of a transaction, and act as an additional layer of security to sift genuine transactions from potentially fraudulent ones. Of course, if the talks work out, such a solution would need to pass through several regulatory hoops before launch.

"This is a digital identity solution which we will be able to launch very soon. Some companies are looking to introduce this for all their financial transactions, while some microfinance and fintech companies want to use it to lower their risk (of lending)," Tushar Agnihotri, Route  Mobile's head of India operations and Asia region, said in an interview.