#GCash audit

With the issue of GCash's 'system reconciliation', the Department of Information and Communication Technology (DICT) has made a statement saying that they do not have any authority to audit fintech firms like GCash. "Ang nangyari ho sa GCash marami din hong nagsamantala na nagpapadala ho ng mga fake messages in order to get personal information ho doon sa mga clients ho ng GCash, even yung mga financial informations ho nila," Paraisio commented. GCash announced today their partnership with Facebook to bring the famous virtual wallet into Messenger. GCash started back in 2004 as Globe's mobile money wallet and has since grown to be one of the most used money transfer and payment portal in the Philippines. Cross-platform sending (PayMaya to GCash and vice versa) would be available soon but for now, only GCash members can send and receive money from each other. GCash recommends its user to be fully KYC'd (Know Your Customer) as per Banko Sentral's rule to be able to fully utilize their services. To withdraw via ATM's users must buy GCash' own card. For now, this feature is only available on android but Facebook and GCash promise to bring it to iOS later this year. Read more in our articles including "DICT has no ability to audit for fintech firms like GCash" and "GCash now available in Messenger".