While considerably more secure than typical static username and password log-in systems, many people find using security tokens cumbersome given the need to keep it with them in order to use online banking.

BBC: New Mastercard has LCD screen and keyboard

If the phone is lost, the owner needs to sign out of the app for security beyond the phone's log-in code.

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Many of the world's banks require customers to log in to online banking by using a small security device to generate a one-off password.

BBC: New Mastercard has LCD screen and keyboard