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In India, the local financial technology sector has developed innovative payment solutions that allow users to make deposits through SMS-based transactions. This method is particularly popular in regions with limited internet access, as it relies on basic mobile phone functionality. Users can initiate a deposit by sending a predefined SMS to a designated number, which then processes the transaction through their mobile wallet or linked bank account. The system is secure, leveraging encryption and authentication protocols to protect user data. It has gained traction due to its simplicity and accessibility, enabling even those in remote areas to participate in digital transactions without needing smartphones or constant internet connectivity. |
