TAP OTAC is a financial authentication solution that embeds a One-Time Authentication Code (OTAC) module as an applet into a physical card's IC chip. Authentication is initiated when a user taps the card against a smartphone using Near Field Communication (NFC), which generates a dynamic code that in turn produces a secondary code within an integrated application. The system utilizes uni-directional dynamic tokens, allowing it to function independently of cellular networks and without the bi-directional connectivity required by conventional push-and-pull systems. Integration with financial applications is achieved through a software development kit (SDK).
The technology is designed to facilitate the implementation of multi-factor authentication (MFA) to secure transactions and isolate the authentication medium from fraud and phishing attacks. Compatible with any mobile operating system, the solution also supports multi-purpose use cases. This allows organizations to consolidate functions such as corporate payments, physical access control, and employee identification onto a single credential.
