GCash assures more secured transactions with Customer Protect

FILE: SECURED TRANSACTIONS. In a bid to provide more secured transactions, the country’s leading mobile wallet GCash launched its Customer Protect program on Wednesday (Sept. 11, 2019). From left: GCash Chief Data Officer JF Darre, GCash Head of Risk Decision Center Peach Orbe, GCash Lead for Customer Protect Miggy Santos, GCash Chief Marketing Officer Chris Manguera, and GCash Chief Corporate Affairs Officer Ney Villaseñor. (Contributed photo via PNA)

MANILA — The country’s leading mobile wallet GCash has upgraded its security features through its new Customer Protect program.

With 20 million and growing customers, the e-wallet app finds it appropriate to make the platform more ideal for Filipinos to put in their hard-earned money to the app.

“Majority of Filipinos are skeptic to banks even traditional ones to store their money to. We are inspired by this to make them trust our platform. By having guaranteed protection, we hope that we can give them the peace of mind,” Head of Risk Decision Center Peach Orbe said in a media interview on Wednesday.

Under the Customer Protect program, there is increased cyber security awareness and education, especially regarding full verification of one’s GCash account.

“It is extremely important for users to comply with the verification process of GCash based on the Know-Your-Customer (KYC) mandates of the Bangko Sentral ng Pilipinas,” GCash president and chief executive officer Anthony Thomas said.

Full verification on GCash requires a user to establish legitimate identity through the submission of valid government identification cards and a selfie, as well as a series of mobile phone and contact information verification.

Fully verified GCash users can receive compensation for the actual amount of unauthorized transactions not exceeding PHP100,000. Semi-verified users can receive compensation up to PHP10,000, while basic users can receive up to PHP2,000.

”Our intelligent risk management approach remains to be the first line of defense in protecting our users,” Thomas said.

Using advanced risk capabilities, GCash can monitor transactions round-the-clock to detect and prevent fraudulent activities.

”Our Customer Protect program is an added benefit we extend to GCash users for their enhanced peace of mind and maximum enjoyment of the advantages that a fully digital lifestyle brings,” he added.

The new program also guarantees users of compensation for unauthorized financial transactions on their GCash app, GCash on Messenger, or GCash Mastercard platforms arising from instances such as stolen mobile phones or identity theft.

A user should file a report regarding any irregular transaction, such as unauthorized withdrawals or point-of-sale (POS) purchases-on GCash’s official customer care channels within 15 days from the date of the transaction.

Eligible and valid disputes can be reversed for amounts of up to PHP100,000.

”The GCash Customer Protect program is a recourse that our valued users can take should they, unfortunately, fall prey to physical or virtual theft,” Thomas added.