Bank Simpanan Nasional (BSN) will discontinue SMS one-time password (OTP) authentication in favour of multi-factor authentication via BSNSecure. The switch was announced in a now-deleted post on the bank’s Facebook page. That said, a notice on its official website revealed that the transition is slated for next month. As per this notice, the change is aimed at strengthening security, as well as protecting customers from financial fraud.
Starting from 15 December 2026, online transactions, including e-commerce transactions, will only use BSNSecure for verification. To ensure a secure and uninterrupted banking experience, customers are advised to download the BSN eWallet so they can perform e-commerce transactions using BSNSecure. As explained on an FAQ page, the platform serves as a digital wallet for BSN Cardmembers. Beyond authorising online payments, it enables users to manage their bank cards and access rewards and promotions.
It should also be noted that BSN eWallet is a separate app from myBSN. The latter is used for everyday banking services, including checking account balances and making DuitNow transfers. Other than that, the app is used for paying credit cards, financing and loan instalments.
Notably, both platforms come with the BSNSecure function, but it serves different purposes. In BSN eWallet, it is used for e-commerce transactions only. On the other hand, BSNSecure through myBSN is meant for authorising all online banking transactions, such as e-SSP purchases, credit card payments, as well as fund transfers. Regardless of function, it offers an extra layer of security by ensuring that only authorised transactions are approved.
BSN eWallet shares the same login credentials as myBSN, so users may simply enter their existing username and password when signing up. To get started, users must first download the app, which is available through the Apple App Store, Google Play Store, and Huawei AppGallery.
(Source: BSN)
