Monitoring OTP Code Conversion Rate with Dexatel Verify API

One-time passwords serve as digital keys, granting access to secure transactions, account verifications, and more. This additional layer of security can make the difference between a successful transaction and a potential breach. But it doesn't end when the code is generated; it only ends when the OTP code is successfully activated.

Understanding OTP Codes

As the name suggests, one-time passwords are unique, time-sensitive codes sent to users via messaging or voice channels. They act as an extra layer of security, making sure that the person on the other end is who they claim to be. You can send OTP codes via SMS , voice, or implement passwordless authentication —even Meta rolled out a new WhatsApp OTP feature to verify online activities.

Whether you're purchasing a product online, transferring funds between bank accounts, or accessing confidential documents, the OTP ensures that the person initiating the action is indeed authorized to do so.

OTP codes are not limited to banking or authentication processes. They are employed in various sectors to safeguard sensitive information. For instance, healthcare providers may use SMS verification to grant access to electronic health records, ensuring patient data remains confidential.?

Similarly, government agencies may utilize OTPs to secure online services and prevent unauthorized access to citizens' information.

The Importance of Conversion Rates

Why do these codes hold such importance? The answer lies in the conversion rate. Imagine sending out a hundred OTP codes, and only a handful are successfully activated. This isn't just about numbers; it's about the efficiency and security of your operations.?

Successful activation is the moment when the user, after receiving the code, enters it correctly, thus proving their identity and intent. Without activation, the OTP remains a dormant guardian, unable to fulfill its duty.

Low conversion rates can lead to user frustration, abandoned transactions, and even potential security vulnerabilities.

Why OTP Code Conversion Rates Matter to Your Business

1. Enhanced User Experience

When your OTP codes are efficiently activated, users are more likely to complete transactions, access accounts, and engage with your services. This leads to increased user satisfaction and trust in your brand.

2. Reduced Abandoned Transactions

Low activation rates often result in abandoned transactions. Users who can't successfully activate OTPs may give up, leading to lost sales or incomplete processes. By improving conversion rates, you reduce the chances of these abandoned transactions and maximize revenue.

3. Improved Security

An efficiently activated OTP is a strong indicator of genuine user interaction. It safeguards your platform from fraudulent activities and ensures that only authorized users gain access. And if you operate in industries like finance, healthcare, and eCommerce, nothing matters more than security.

4. Regulatory Compliance

Monitoring and improving OTP code conversion rates can help your business comply with regulations that mandate strong user authentication, avoiding potential fines and legal issues.

5. Data Insights

Tracking activation rates provides valuable insights into user behavior and preferences. You get to identify patterns and make data-driven decisions to refine your customer engagement strategies .

6. Cost Savings

A higher OTP code activation rate means fewer codes are wasted. You can reduce operational costs associated with generating and sending OTPs, as well as save on support costs related to users struggling with activation.

The Dexatel Solution

Enter Dexatel, a leading provider of omnichannel business communication solutions. Our Verify API offers a robust way to track the code activation rate in real time—both messaging and voice channels—allowing businesses to make informed decisions and boost user experiences.

If you’re already sending OTP SMS texts with our API, chances are you’re going to want to track your conversion rates too.

How to Track Code Activation with Dexatel Verify API

Step #1: Integration

Start by integrating the Dexatel Verify API .

Step #2: Insight Section

Navigate to the Insight section on your Dexatel dashboard.

Step #3: Logs

Access the logs to get a comprehensive overview of all sent messages.

Step #4: Filter Messages

Filter your messages with the source labeled "Verify."

Step #5: Code Status

Check the code status next to each message. If the code is correctly entered by your customer, you will see an "Activated" status next to it.

For an overall view of the percentage of successfully converted codes, head to the Insight section, then Chats, and explore the activation diagram.