One-time passwords added for Thai cash deposit machines from next year

From June next year, people depositing money in cash deposit machines (CDMs) will be able to verify their identity via mobile phones by using a one-time password, the Bank of Thailand (BOT) said on Friday.

Currently, depositors must provide proof of identity with a debit or credit card, in line with anti-money laundering laws.

The OTP method is being added for the convenience of users, BOT said.

The OTP service will be provided for free by mobile operators.

To use OTP verification, users must input their ID card and mobile phone number into the CDM, then input the one-time password they will receive shortly afterwards to complete the verification process.

The BOT said it will coordinate with the Anti-Money Laundering Office and the Thai Bankers' Association to develop other verification methods to further improve user convenience while ensuring the safety of electronic transactions.

BOT tells Thai commercial banks to push interest rates up gradually

Bank of Thailand ready to respond if baht gets too volatile Bank of Thailand ready to respond if baht gets too volatile

One-time passwords added for Thai cash deposit machines from next year

From June next year, people depositing money in cash deposit machines (CDMs) will be able to verify their identity via mobile phones by using a one-time password, the Bank of Thailand (BOT) said on Friday.

The Bangkok Paradox: A city of opportunity where income struggles to keep up with living costs

Registration for 20-baht flat fare electric train scheme starts August 25

Tiny Riders Compete in Bangkok's 'Little Elephants Games' Balance Bike Event