What is the use of Alipay SMS verification service?

It is understood that the SMS verification service was originally a free service for mobile phone dynamic passwords. It is a secure value-added service provided by Alipay. After users apply for the SMS verification service, they modify the key information of their Alipay account or the transaction exceeds a certain limit. , it is necessary to add the step of mobile phone SMS verification to improve the security of users’ Alipay accounts.

Previously, the SMS verification service was divided into free and paid methods. The paid service will send a verification code for every payment; while the free version will send a verification code when a single payment exceeds 200 yuan or daily cumulative payments. A verification code will only be sent when the amount exceeds 1,000 yuan.

In the early days of the free SMS verification service being offline, Alipay increased the single transaction limit of the free SMS verification service from 200 yuan to 500 yuan in June this year.

Although 0.6 yuan seems inconspicuous, gathering sand into a tower has always been the business operation model of the Internet. Historical data shows that as of December 2012, the number of registered Alipay accounts exceeded 800 million, the peak daily transaction volume exceeded 20 billion yuan, and the peak number of daily transactions reached 105.8 million. If calculated based on 800 million users, assuming that all users have enabled paid SMS verification, this service alone can contribute nearly 500 million yuan in revenue to Alipay every year.

For those users who do not want to continue paying, users can apply to unsubscribe. At the same time, in addition to providing SMS verification, Alipay also supports other account security services such as digital certificates, mobile phone tokens, and third-party certificates. The latter security products are much higher than SMS verification in terms of security level and payment amount, and they are all free versions.