Much like a disposable face mask that is designed to be used only once, a one-time password (OTP) is a code sent to your email address or mobile phone via text that is only valid for one login or transaction. Should you need to log in again or make a new purchase, a new OTP would need to be created before it will be accepted.

In technical terms, an OTP is simply a string of automatically generated numbers or characters to allow for one login attempt. This feature has become commonplace among security settings across financial and commercial online services and helps to minimise the risk of fraud for both organisations and their customers.