NETSECURE is a secured two factor authentication system, wherein two different parameters [one that you already know, like login id and password and second, a single usage One Time Password (OTP) that you will receive or generate while conducting the transaction] are used together to verify your identity on the Internet. Using two factors as opposed to one factor (just the login id and password) ensures heightened security for your online transactions.
Yes, it is mandatory to register for Netsecure to do financial transactions like fund transfer, bill pay, recharge etc.
Different types of available Net Secure options for NRIs are
- Net Secure with Mobile Application – Net Secure code can be generated using Mobile App
- Net Secure with Webpin – You need to register one or more of your frequently used computer for Webpin. You will use this Webpin to receive Net Secure code.