What do dynamic passwords and mobile phone transaction codes mean?

Dynamic password is an unpredictable combination of random numbers generated according to a special algorithm. Each password can only be used once, which is widely used in online banking, online games, telecom operators, e-commerce, enterprises and other application fields. ?

The advantage of dynamic password lies in its fast and seamless interoperability with various business systems. Its self-developed command dynamic password authentication software system is stable and efficient, supports multiple authentication modes, and its solutions can serve enterprises of different sizes.

2, the meaning of mobile phone transaction code:

Mobile phone transaction code is a transaction authentication method that customers use mobile phone short messages to verify transactions such as online banking transfer to others and online payment.

"Mobile phone transaction code" is a new security mechanism. When operating online banking to transfer money to others (including intra-bank transfer, domestic inter-bank remittance and cross-border remittance) and electronic payment transactions, you need to enter not only the dynamic password, but also the mobile phone transaction code for verification.

They complement each other and are both online banking security authentication tools. Customers can choose to use different security methods for verification according to their needs.

Extended data:

China Bank's mobile phone transaction code description and risk warning are as follows:

1. When opening the online banking mobile phone transaction code service, customers should reserve their mobile phone numbers and ensure their authenticity and accuracy. If the mobile phone number reserved by the customer is not detailed and accurate, the customer will not receive the information normally, resulting in losses.

2. When China Bank provides mobile phone transaction code service, it can charge a certain fee for some services, and the charging standard is based on the service charging service price published by China Bank.

3. If the transaction cannot be completed due to force majeure or other reasons not attributable to the Bank of China (such as the customer's mobile phone number is incorrect or invalid, power failure, arrears, no signal, lost or delayed SMS, etc.). ), the Bank of China is not responsible for the resulting losses.

Baidu encyclopedia-dynamic password

Official Website of Bank of China-Electronic Banking-Service Information-Personal Service Business Rules of Online Banking