Password Management

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.

See case study

Password Management

Number of customers	400,000

% of customers with password-related support cases in a month	14%
Total monthly customers with password-related support cases	56,000
Average cost of a support case	$7
Average total monthly cost of support cases	$392,000

% of password support cases that can be avoided using SMS	20%
Cost savings from reduced support cases	$78,400

Cost per SMS	$0.015
Total monthly cost	$840

Net savings in 1 month	$77,560
Cost savings for every $1 spent on SMS	$92.33