Mastercard Incorporated
Systems, methods and computer program products for OTP based authorization of electronic payment transactions

Abstract:

The invention provides methods, systems and computer program products for one-time-password (OTP) based payment authentication. The invention comprises receiving one or more specified transaction parameters corresponding to a specified transaction and generating at an authentication server, an OTP for authorizing a transaction payment corresponding to the specified transaction. The generated OTP is associated with the one or more specified transaction parameters, and may be transmitted to a user for subsequent use to authenticate identity of the user for executing the specified transaction.