eToken, Soft Token, Digital Token – Definition, Security Features, Importance, Functions
eToken, Soft Token, Digital Token – Definition
eToken is known as Digital Token or Soft Token is an online application or software, used in generating a One Time Passwords (OTPs) for verification and authentication of electronic financial transactions.
eToken are highly secured application and software that generates codes used as a second-level authentication for transactions.
The One Time Password (OTP) is an automatic generated secured 6-digit code, which serves as an additional feature for authentication and verification of users for completion of an electronic/online transactions which includes sensitive financial transactions, web transactions, mobile banking transactions and other confidential access/informations.
Security features of eToken, Soft Token, Digital Token
1. Provides secured 6-digit automatic code
2. Secured Verification and Authentications
3. Secured access control
4. Provides a highly secured data encryption
5. Generates random secured OTP for every transactions.
Importance and functions of eToken, Soft Token, Digital Token
1. Provides transaction flexibility
2. It gives optimal protection against third party, unauthorized logins, thefts and fraudsters.
3. It gives access to unlimited banking services
4. It serves as a multi-factor authentication for every transactions
5. It is used to transfer money, bill payments and flight bookings.
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