Customers will have to go through an extra layer of security for any credit card transaction over phone from New Year, as Banks have introduced an additional password system for credit card customers. The step has been taken after the Reserve Bank direction for making phone banking more secure.As per the RBI guideline, all the banks will decline any telephonic banking transactions where the customers do not have a One-Time Password. The password will be valid for a single use and would remain in effect for a period of 2 hours. The customers would need to generate a separate One Time Password for each IVR transaction.