What Does Phone Verification Do?
What does phone verification do? Phone verification is a process that ensures a phone number provided by a user is valid, accessible, and reachable. It can also help reduce fraud by flagging invalid information and providing a one-time password. Listed below are some of the most popular ways phone verification is used. Read on to learn how phone verification can benefit your business. Getting started is as easy as signing up for a free trial or using a service that is available online.
Verifies That a Phone Number Provided by a User is Valid, Reachable and Accessible
To use phone number verification, you must provide a phone number, such as an actual telephone number, and verify that it is reachable, valid and accessible. You can also use a service that pings a phone number to see if it has received a message. This service is an essential security measure for a number of businesses. It helps to avoid scams and frauds by verifying that a phone number belongs to the owner of a mobile device.
Flags invalid information
Scam likely caller ID tools are designed to catch a scammer using a phone number. These tools are designed to protect consumers, but they also harm organizations that rely on time-sensitive communication. Companies that receive a flag can try to contact their carrier or call blocking app to dispute the false information, but communication with them can be difficult. These tools are being created by third-parties and carriers to help protect consumers.
Provides a one-time password
A One Time Password (OTP) is a unique code that is generated only once and sent to the mobile phone number linked to the account. It can be entered into the phone to verify the identity of the phone user. Originally, One Time Passwords were sent via SMS, but today, this technology is available in many forms. One type of OTP is Voice, which is an alternative to SMS and is a good backup method for people with poor eyesight or limited vision.
Reduces fraud
One of the best ways to protect against fraud is to associate the user’s phone number with their account. This allows businesses to leverage real-time data such as device status, location, and roaming to prevent the use of fake accounts. By verifying the phone number of the user, businesses can determine the risk of a transaction and improve conversion chances. Moreover, phone verification can be very useful in preventing fraudulent account takeovers.
Improves Security
Businesses use phone verification as a way to verify user identities and avoid fake accounts. Many people open up accounts under a fake name to abuse free offers or spam, and phone verification stops this from happening. Recent research shows that removing fake accounts can increase user base value by 44%. Businesses can use phone verification to increase security and protect their brand image. Here are some of the benefits of phone verification. Read on to learn, how phone verification can benefit your business.
Conclusion
Using the same phone number for many applications can significantly reduce the cost of phone verification. Companies using phone numbers for their customer service must monitor them carefully, as they may be used as conduits for automated attacks. One way to mitigate the costs of phone verification is to make sure that all of the phone numbers on a customer’s contact list are verified. This is particularly important since the average response time for SMS messages is 90 seconds. Furthermore, 64% of consumers have a favorable impression of businesses that communicate via SMS. In the U.S., messaging is the most preferred channel for customer support.