Starting Friday, July 25, banks in the United Arab Emirates will begin phasing out one-time passwords (OTPs) that are currently sent by SMS and email. The shift is part of a gradual security update led by the Central Bank of the UAE (CBUAE). OTPs are short security codes sent to your phone or inbox. They're used to approve online payments, including things like shopping or QR-code transactions when dining out. This won’t happen overnight — the rollout is gradual and expected to be completed by March 2026 across all banks in the country. But the UAE’s banking system is moving...