ENTERPRISE A2P SMS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Rising usage of mobile payments and banking

With the rapid uptake of digital financial services and mobile payments, the usage of banking and fintech applications on mobile devices has seen exponential growth globally. Advanced mobile banking features that provide bank notifications, payment status updates, one-time passwords, and digital security alerts over SMS are driving the stronger adoption of these apps. At the same time, the growing popularity of mobile wallets, P2P money transfer services, and peer-to-peer lending is generating tremendous transactional traffic that relies on timely SMS-based communications. Mobile FinTech relies heavily on A2P SMS for secure two-factor authentication and keeping users informed about financial activities. One-time passwords for login protection, transaction confirmations, details of completed credit card payments, or loan disbursements are all communicated via A2P SMS. Despite the growing popularity of OTT messaging apps, SMS remains a crucial component in mobile FinTech, providing a secure and reliable channel for account activation, two-factor authentication, and real-time updates on financial transactions.