Neither All Automations are Good, nor all Frictions are Bad. – Digital Payments.
Auto reading of SMS and OTPs. Are we offering convenience or making the important part irrelevant. Are we making customers Smarter, Faster or Dumb?
We need to ask and understand what is the purpose of OTP, 2FA. To take #Consent, inform customers that a particular amount will be debited from your account through this OTP, it’s a virtual signature. But we removed that “Unnecessary” friction through auto-input
When we automate something, we not only remove friction, but we make that process irrelevant or push it to the backend as having no explicit role. People never realise the importance of and need for that step.
Think of new to Digital Payment customers, will they ever realise what is OTP and why it is important and what does their bank want to communicate through that OTP message?
“What is OTP? Its taken care by xxxPay. Chill..”
If not required, remove it, but have good Governance & GRM in place and use something else as explicit consent (2FA/MFA). We have gained trust in the Digital Payment because of such “Frictions” and explicit consents.
I hope companies realise, we move ahead because of Friction, slipping back doesn’t need it, and we are not ready to Fly yet. Let’s not Copy, Paste & Use.
Let’s discuss it here on Linkedin- – https://www.linkedin.com/posts/piyushsingh1_digitalpayments-consent-activity-6752814479483912192-SIeH