The roll-out of software-based or “soft” security tokens by banks and government agencies is set to speed up the decline of the humble SMS.
The popularity of SMS, or Short Message Service, has been steadily falling since peaking at 9.64 billion sent messages in 2011, according to the Infocomm Media Development Authority.
Last year, only 3.26 billion messages were sent over the mobile networks of the three local telcos Singtel, StarHub and M1.
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