Where security is compromised, fraud is inevitable. Traditional systems can no longer keep pace with the volume and velocity of criminal activity. Many existing systems can’t uncover new fraud types; they overwhelm the user with false positives or use dated rules that only uncover fraud long after it has taken place.
Not so long ago (October 2017) Bloomberg reported how new start-up SMSChain would enable consumers to sell unused capacity from their SMS allowance to enterprises that wanted to use SMS as a communication channel: $75 each month for 500 messages per day (approx. 0.5c per message), according to SMSChain.
An industry first, global solution to simplify messaging reach for brands and fuel A2P revenue opportunities for mobile operators
A joint effort by the GSMA, leading MNOs, suppliers of telecommunications equipment, and application developers led to the creation of the RCS standard, bringing forward a successor to SMS which enhanced the user experience with multimedia capabilities including:
Operators are beginning to grasp the scale and potential of A2P (Application to Person) messaging revenues, and how advances in messaging technology will enable them to overcome the dominance of OTT messaging apps. Juniper research forecasts that A2P messaging revenues will hit $50B globally by 2022. With the right strategies in place, operators can dominate the A2P Messaging market and move their revenues in the right direction again.
We have taken it for granted. When we use our smartphone, it is just another icon on the screen but, believe it or not, SMS is more than 35 years old. It was first proposed for the Global System for Mobile Communications (GSM) in 1982, although its most popular time was the late 90s and early 2000s, when entire generations mastered the art of compressing ideas, passions, and conversations into small snippets using the most ingenious abbreviations in order to fit within the 160 characters limit.