Comparison

LOTUS Token vs Parallex eToken

Price, ratings, monetisation and update history for both apps, side by side — with what reviewers say about each.

Head to head
About

LOTUS Token

This app provides an extra layer of security for banking customers. It generates one-time passcodes to verify transactions and protect your accounts from unauthorized access.

Highlights
  • Two-factor authentication
  • Transaction verification
  • Account security
  • One-time passcode generation
Features
Read full description

A 2FA customer app used to secure transaction

About

Parallex eToken

This app generates secure One-Time Passwords (OTPs) to verify electronic transactions and logins for online banking. It requires activation using your online banking credentials and a one-time fee for initial setup.

Highlights
  • Generates One-Time Passwords (OTPs)
  • Verifies electronic transactions
  • Secure login authentication
  • Requires online banking credentials for activation
  • PIN protection for app access
  • 24/7 banking service access
Features
Read full description

The PARALLEX eToken is a mobile app that generates One Time Passwords (OTPs) to verify electronic transactions. An OTP is a secure and automatically generated string of characters that confirms the user's identity during login or when completing electronic transactions. Electronic transactions, such as web, internet banking banking activities, often require the input of digit codes generated by the PARALLEX eToken app. To activate the PARALLEX eToken, simply login to the PARALLEX Token app with your Parallex Online Banking credentials. Once logged in, Click on Get started -Register Token -Enter Account Number -Select Corporate Customer -Click on Register - the app will authenticate your mobile phone and generate serial number and Activation code _ Create pin and confirm pin Once the app is activated, you can create a unique 4-digit PIN for logging into the application and enjoy 24/7 banking services. SERVICE TO CUSTOMERS AND INFORMATION You will be charged N2,500 + 7.5% VAT for the first time you activate your token. However, in accordance with the Central Bank of Nigeria's directive, this is a one-time charge for your token. Any additional reinstallation or reactivation will be free. For further enquiries about the PARALLEX eToken, you can visit www.parallexbank.com or send an email to customercare@parallexbank.com or call us on 070072725539.. Note: To ensure the security of your OTP, never disclose the OTP code to anyone.

Screenshots

LOTUS Token4 screens
Parallex eToken4 screens

Verdict

The call

The clearest difference is rating: LOTUS Token at 5.0 against Parallex eToken's 4.3. LOTUS Token also leads on iOS requirement (11.0 vs 15.6). Parallex eToken's advantage is ratings volume (3 vs 1). On price, ads, in-app purchases and monetization model there is nothing between them.

Scored on Price · Rating · Positive reviews · Number of ratings · Update frequency · Ads · In-app purchases · Monetization · Best chart rank · Devices · Requires iOS

CostPrice · In-app purchases · Ads · Monetization

Both are free to download. Neither carries in-app purchases, so what you see is what you pay.

ReceptionRating · Positive reviews · Number of ratings

LOTUS Token holds the better App Store score, 5.0 against 4.3. Both are backed by a comparable volume of ratings — 1 and 3 respectively.

Scorecard3 real differences · 6 level
LOTUS Token versus Parallex eToken: the parameters behind the verdict, then further details
ParameterLOTUS TokenParallex eToken
PriceFreeFree
Rating5.0 (1 ratings) — better4.3 (3 ratings)
Number of ratings13 — better
Update frequency—Every 7 months
AdsNoNo
In-app purchasesNoNo
MonetizationFreeFree
DevicesiPhone, iPad, iPod — betteriPhone, iPod
Requires iOS11.0 — better15.6
Further details — not scored
Size10 MB4 MB
Age rating17+4+
DeveloperLotus BankParallex Bank Ltd

In-app purchases

None

LOTUS Token

No in-app purchases

None

Parallex eToken

No in-app purchases

Questions

Is LOTUS Token free?
LOTUS Token is free to download, with no in-app purchases.
Is Parallex eToken free?
Parallex eToken is free to download, with no in-app purchases.
Which has better reviews, LOTUS Token or Parallex eToken?
LOTUS Token is rated higher. LOTUS Token averages 5.0 out of 5 from 1 ratings, while Parallex eToken averages 4.3 from 3 ratings.
Do LOTUS Token or Parallex eToken have ads?
Neither LOTUS Token nor Parallex eToken shows ads.

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