CTIA Day 2 – SMS Contracts
One of the most interesting products I saw today was from Spanish company Lleida.net. They offer the ability to get electronic signatures via SMS.
As someone who has spent a good portion of his life closing deals, I recognize the importance of making it ultra-simple to get ink onto paper.
It works like this, Lleida is licensed as a carrier in many countries including the US, Canada, and much of Latin America. You send any longer legal documents to them in advance then you ask them via SMS if they agree to the terms and reference the document. Since Lleida is a carrier they can provide a certificate of authenticity for the text and its response suitable for use in court.
So here’s a use case: You’re a company that sends lots of (expensive) paper bills each month. You can email customers with all the details about signing up for electronic billing. You can then send an SMS message asking if they want to sign up (and reference the doc you sent). If they respond YES, the SMS messages are digitally signed for nonrepudiation and sent to your operations team.
I’ve only started to think of the applications where this technology could save millions and generate net-new revenue.
I would love to hear any legal opinions out there from the US, Canada, and Latin America.
(I am not recommending this product in any way nor make any claims that it actually does any of this. I have no financial connection to this product)