Messente: How to Communicate with Every Mobile Phone User on the Planet
In Episode 76 of The Payments Show Podcast, I spoke to Uku Tomikas who is the CEO of Messente.
Messente is a dedicated business messaging platform which enables businesses to send one-time passwords, PIN codes, notifications and verifications to customers securely – and at scale.
AUDIO VERSION: thepayments.show
Business SMS is Replacing Consumer SMS
Peer to Peer (P2P) messaging is pretty much dead, but Account (or Business) to Person (A2P) messaging is growing at a very rapid rate. The expected growth up to 2027 is 70%+ simply because there is no other communication channel that's this ubiquitous. If you have a phone, you can get a text message.
Different Conversion Rates for Different Messaging Platforms
Bulgaria and Vietnam… our clients that do promotional content go Viber first, even if the market penetration is only 40% because the actual conversion rate on Viber was 3X times higher… than SMS
…and then we combine them into what we call cascading. So let's say that you know that in Pakistan, for example, WhatsApp is by far the biggest thing. It has like 70, 80% market penetration. So you'll go WhatsApp first. If it doesn't arrive via WhatsApp, you'll cascade over SMS so it still gets there. So SMS is kind of the last line of defence for communication.
OTP Codes, AI, Fraud, Scams and Security
The reason why we've landed on that security and fraud angle is because with the rise of AI, and with everything becoming more digital and more businesses using SMS, fraud is becoming bigger and badder, and converting more!
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