IVR (interactive voice response) transactions are those made over the phone where certain credit-card details are to be entered into an automated system in order to make payment to a merchant for the purchase of his goods/services.

Following a recent Reserve Bank of India mandate, credit-card-issuing banks in India have introduced an additional measure of security for IVR transactions on their credit cards – the OTP.

What is an OTP?
An OTP is a six-digit code that you obtain from your card-issuing bank. It is a single-use password, valid for a limited period from the time of placing a request for it. You will need to obtain an OTP before every IVR payment transaction.

How to obtain an OTP?
You can obtain an OTP through various modes like your card-issuing bank’s website, the Internet, SMS, etc. The mode varies from bank to bank.

How to use the OTP?
The OTP is required at the time of making payment on the IVR, where you will be prompted to enter it along with the other details like your credit-card number, card expiry date and CVV number.