Visa is partnering with Chinatrust Commercial Bank in Taiwan and China Everbright Bank in China to launch a new online authentication tool which enables Visa cardholders to use a mobile-phone-based one-time password to authenticate themselves for online shopping.

The service utilizes Verified by Visa and uses a one-time password which is sent to a cardholder’s designated mobile number via a text message. The cardholder uses this one-time password when making payment instead of using a fixed password to verify his or her identity, making online shopping more secure and eliminating the need for the cardholder to remember their password.