But also, I think you have that situation understood the other way around.
SMS was chosen because everyone has it already. So it's not a matter of being forced to have it, it's a matter of "all other alternatives are less widespread."
I think there are actually more people globally with access to mobile phones than people who have access to basic sanitation, i.e. flushing toilets.
I'm sure that many or most of those organizations have alternative, non-electronic means of interaction - such as phone, paper (writing checks), or in-person. That is the alternative to using a SIM card.
Yes but situation before September was that I could use my account without SIM card. Now access to my account requires having a SIM card and a phone.
Now imagine taking all my six SIM cards on vacation to Thailand just because you may be in need to urgently use one of my multiple bank or brokerage accounts ;-)
SMS was chosen because everyone has it already. So it's not a matter of being forced to have it, it's a matter of "all other alternatives are less widespread."
I think there are actually more people globally with access to mobile phones than people who have access to basic sanitation, i.e. flushing toilets.
I'm sure that many or most of those organizations have alternative, non-electronic means of interaction - such as phone, paper (writing checks), or in-person. That is the alternative to using a SIM card.