How GCash strengthens its security with ‘double authentication’

As part of its #GSafeTayo campaign, GCash announced that it will roll out a new security feature called ‘double authentication’ that aims to prevent authorized transactions brought about by phishing and other types of scams.

GCash and PNP ACG strengthen collaboration through a revitalized security campaign, #SafewithGCash that aims to mitigate scam incidents by employing a combination of user education and continuously upgrading its internal security platform to serve its 71 M users.

From L-R: GCash Head of Enterprise Risk Management Bea De Ocampo, GCash Chief Legal Officer, Atty. Maricor Alvarez-Adriano, GCash Chief Customer Officer Winsley Royce Bangit, PBGEN Joel Doria, Director PNP ACG; Police Colonel Bernard Yang

Double authentication

The double authentication feature ensures that only the account owner has the ability to link his GCash account to a specific device.

“This feature removes customers’ dependence on SMS OTPs which has been exploited by some fraudsters to scam users. It will provide a unique identifier that can’t be phished by scammers. It also provides an additional layer of security to the current SMS OTP,” said Winsley Bangit, Chief Customer Officer of GCash. “We never stop innovating to make sure our 71 million users have the safest and most convenient experience when they use the app.”

Online Shopping Protect

In addition to double authentication, GCash also introduced a new product under GInsure called ‘Online Shopping Protect’, powered by global insurance company, Chubb. It gives customers a total insurance coverage of PHP 20,000USD 341INR 28,892EUR 325CNY 2,482 for incomplete deliveries, defective items, accidentally-damaged, or stolen products, for PHP 34USD 0.58INR 49EUR 0.55CNY 4 per month.

Improved partnerships with authorities

GCash also is also ramping up its partnership with authorities and regulators to help ensure the whole e-wallet ecosystem is safe for all.

In line with this, GCash also signed a memorandum of agreement with the Philippine National Police Anti-Cybercrime Group (PNP-ACG) to strengthen collaboration in going after perpetrators involved in phishing, smishing, online fraud, e-scams, vishing, and other cybercrimes that take advantage of GCash users.

“I would like to express my confidence that through our stronger partnership with the PNP-ACG, we will be able to achieve more in the prevention, investigation, and prosecution of cybercrimes. GCash also assures the PNP-ACG that we will do whatever we can in order to successfully implement our agreement,” said GCash Chief Legal Officer Atty. Maricor Alvarez-Adriano.

Constant reminders to customers

GCash has also been constantly reminding users to never share their MPIN or OTP, as well as to never click links outside of the GCash app, especially from websites or senders which you have not verified to be legitimate.

GCash has also removed all clickable links in its official SMS and emails to users to help them identify scam messages. In addition, it has also migrated transaction notification messages to the in-app inbox and masked the names of send money recipients to further protect the users’ funds and personal data.

Under its #GSafeTayo campaign, GCash is aiming to mitigate scam incidents by employing a combination of user education, increased cooperation with law enforcement agencies, as well as continuously upgrading its internal security platform.