Coda Payments, the leading provider of secure, cross-border monetisation solutions for digital products and services, uses SMS to send one-time passwords (OTPs) for authentication.
The table shows a sample framework, assessing the potential impact of a business using SMS for password management.
Example:
A customer has forgotten their password. As part of the password reset process, an SMS message with a one-time pin code is sent to the customer’s mobile number. The customer enters that pin code as a way to verify the mobile number.