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This was like nails on a chalkboard. "You receive an SMS with the money".
Why do developing countries think SMS is secure enough for banking? Lol... I think Africa has a similar dumb system. "Mpesa" or something like that.
I believe it is what they have. The need was there (in 2005) and there was no banks, no internet, or other financial structures around, but people had cell phones. M-Pesa met a need with the limited resources available. Still today it is the best they can do. A "PIN secured" SMS does not sound very secure for "banking" but it works and it has allowed the very poor to improve their lives.