Security and Vulnerability: Using One-Time Pin to Access Data for Online Transactions

Abstract ―​

An increasing number of industries have been transformed with the aid of technology and technological advancements. Online transactions became more common in the digital age provided by banks as primary services today. As a result, online transaction systems enabled instant verification through one-time pins. The study explored the security and vulnerabilities of one-time pins in online transactions and focused on determining its effectiveness in preventing fraud. The study allowed researchers to better understand one-time pin vulnerabilities; provided important insights into improving digital systems and prioritizing security measures such as one-time pins for online transactions. The researchers surveyed 180 working individuals in Mandaluyong City about their perceptions and experiences with one-time pins. Purposive sampling technique was employed in identifying individuals who matched the study's target respondents. Moreover, the researchers used the weighted mean, Mann-Whitney U-test, Kruskal-Wallis H-test, and percentage to ensure accurate data and generalize the findings. The findings showed that many regular users of this authentication method perform online transactions, though majority of these individuals had an average level of technological knowledge. This study also identified common security problems and vulnerabilities associated with one-time pins across different profiles and found that demographic differences did not always influence users' perceptions of one-time pin security.