OTP is One Time Password or One Time Pin which is used only once for any transaction and validity to use this password for some time. If you want to make a payment through Mobile Phone then you may require a One Time Password called OTP.
The Indian banks have started to generate OTP using an SMS and some banks is providing the OTP through IVR customer care, through Mobile banking application and the mobile friendly website.
You may call to Bank Customer care to get your OTP or login in mobile application or mobile friendly website using MMID and Password. For a Mobile Transaction or Mobile Payment MMID and OTP are required. OTP is a difference from a login password, it is a Random Password which is generated from Bank for a particular transaction.
4 Possible ways to generate an OTP :-
1. Mobile Application -
You must have already registered in mobile banking and you must have installed mobile application on your mobile. Using login id (MMID) and password (M-Pin) you will able to generate a OTP through available option in application.
2. Mobile Friendly Website -
You may use mobile banking User ID (MMID) and Password (M-Pin) in mobile friendly website and can get OTP.
3. Bank Customer Care -
You may ask to bank customer care to know steps to generate the OTP.
4. SMS Service -
You may do SMS on bank provided number and bank will send sms of OTP on your registered mobile with bank.