Why You Should Be Using One-Time Passcode

With 95% of consumers reading text messages from businesses within 3 minutes, customer authentication is more important than ever when communicating sensitive matters. Solutions By Text’s SMS One-Time Passcode (OTP) widget bridges that gap, giving businesses a secure, convenient, and fast solution. SMS OTP (One-Time Passcode) addresses a market need for a simple, turnkey, off-the-shelf authentication solution that does not require IT engineering resources or API integrations.

Why You Should Add One-Time Passcode To Your SMS Strategy:

Secure

The average response time for text messages is 90 seconds, compared to the 90 minutes it takes to respond to an email. Providing secure access to sensitive information through the most utilized communication channel increases business efficiency and trust. OTP provides users with a unique passcode that is valid for a single login or transaction. Passcodes allow for an extra layer of security that is not available with traditional, single-use, static passwords that are typically user-created and weak.

Convenience

This widget is accessible via any internet-capable device, making it an excellent tool for centralized contact centers, brick-and-mortar locations, and third-party service providers. SBT’s OTP widget integrates into agent-facing apps and websites.

Time

The OTP widget does not require an in-house IT team or a unique API to get started. SBT’s team can have you up and running in a matter of days, not weeks or months, so there is little to no delay in providing a high level of security.

Ways To Use SMS OTP:

1. Send Online Documents – Send important documents through the most used communication channel. Text messages have the highest click-through rate¹ of popular communication channels at 19%, with email trailing at 4% and Facebook at 1%.
2. Self-Service Banking – SMS OTP allows consumers to open accounts, transfer money, and check balances securely. 57 million consumers use mobile banking in the U.S. With 86% of U.S. banks² offering mobile services, the need for secure messaging is on the rise.
3. Verify & Authorize Account Changes – Protect stored data by requiring users to verify their account through OTP authentication.
4. Payments & Transactions – Authorize sales and collect payments through SMS. An industry survey³ found that 46% of polled consumers would like to pay a business by text if it was done securely. SMS OTP adds that layer of security, allowing companies to collect payments and make sales through text messaging.