Are countries phasing out SMS OTPs for online banking security, and what does it mean for you?

Yes — countries like the UAE and Singapore are moving away from SMS and email-based OTPs due to rising cyber threats such as phishing and SIM swapping. The UAE, starting July 25, 2025, will begin phasing out OTPs sent via SMS and email, shifting toward app-based and biometric authentication. Similarly, Singapore’s Monetary Authority has urged banks to replace OTPs with secure digital tokens. These changes aim to provide safer, more reliable online banking experiences. What do you think about this move? Do you feel more secure with app-based login methods, or do you still prefer traditional OTPs? Share your views!

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