Authentication is the process of verifying the identity of a user. One time passwords (OTP) play a vital role for authentication in net-banking to make it more secure. OTP are used to provide higher layer of security over static passwords that are prone to replay attacks. Distribution of OTPs to concerned user is a major issue. Short message service that is available for mobile phones is the most common methodology for OTP distribution. Quick Response code (QR code) is actually two dimensional bar codes and can store information in both length and breath. QR codes are widely being used to convey short information such as website address, mobile numbers etc. In this paper we are presenting a new authentication scheme for secure OTP distribution in net banking through QR codes and email.