I implemented 2FA for my previous employer and we would have gladly skipped SMS 2FA if we could get away with it. It's more expensive for the company and the customer. And it sucks to implement because you have to integrate with a phone service. The whole phone system is unreliable or has unexpected problems (e.g. using specific words in a message can get your texts blocked). Problems with the SMS 2FA is a pain for customer service too.
I implemented 2FA for my previous employer and we would have gladly skipped SMS 2FA if we could get away with it. It's more expensive for the company and the customer. And it sucks to implement because you have to integrate with a phone service. The whole phone system is unreliable or has unexpected problems (e.g. using specific words in a message can get your texts blocked). Problems with the SMS 2FA is a pain for customer service too.