On-Premise Software

On-premises software (also known as on-premise, and shortened "on-prem") is implemented and activates on computers on the premises of the individual or company using the software, rather than at a distant facility such as a server farm or cloud. On-premises software is occasionally referred to as “shrinkwrap” software, and off-premises software is usually named “software as a service” ("SaaS") or “cloud computing”.

One-time Password

One-time Password is a password that is valid for only one login session or transaction, on a computer system or other digital device. This means that a potential intruder who manages to record an OTP that was already used to log into a service or to conduct a transaction will not be able to abuse it, since it will no longer be valid.