Maksevõti

Maksevõti is an Estonian term that refers to a device, software, or service used to provide or generate a security code for authorizing financial transactions. It is a key element of authentication in online banking and e-commerce, designed to verify the identity of the payer and to approve payments beyond a regular login.

In practice, maksevõti can take several forms. Common examples include a hardware security token that displays time‑based codes, a software token on a smartphone that generates one-time passwords, or a mobile app that requests user approval for a payment (push confirmation). Some banks also support dynamic codes delivered by a secure channel or other two-factor authentication methods. The overarching purpose is to satisfy strong customer authentication (SCA) requirements, particularly under PSD2, by using at least two of the following: something you know (a password), something you have (the maksevõti), and something you are (biometrics).

Security and use guidelines emphasize keeping the maksevõti secret and protected from unauthorized access. It should not be shared, stored insecurely, or used on untrusted devices. If a maksevõti is lost or compromised, the user should contact their bank to suspend or replace the token and to reconfigure payment authentication methods.

Related concepts include two-factor authentication, one-time passwords, and token-based authentication. In Estonia, maksevõti plays a central role in enabling secure electronic payments and aligning with contemporary regulatory standards for online financial services.