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Friendster Money Transfer via GCash

Q: Key Point 1: Friendster has just introduced an Online Money Transfer feature into...

Friendster has just introduced an Online Money Transfer feature into their social networking site.

Abe Olandres February 11, 2009 · 1 min read

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Friendster has just introduced an Online Money Transfer feature into their social networking site. Powered by Globe GCash, friends will be able to send and receive money with a single click from their Friendster Profile.

Friendster users will still need to be a Globe or TM user in order to process money remittances on Friendster.

friendster gcash

GXI and Friendster introduced the online money transfer feature to provide a more convenient and reliable way of transferring GCash within Friendster. For just a minimal amount of P2.50 per transaction, a Friendster member can already send GCash to anyone in his friends list by simply viewing the profile of the intended recipient and clicking the GCash button after specifying the amount involved.

To ensure the security and authenticity of the funds transfer, a confirmation request is forwarded to the sender’s Globe or TM SIM then GCash is transferred as simple as a text message. Money remittances will still be charged the normal Php2.50 GCash transaction fee.

This move could help Friendster position itself as a micro-ecommerce platform, the same way Multiply has evolved among Filipino users.

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Abe Olandres

Editor-in-chief

Abe is the founder and Editor-in-Chief of YugaTech with over 20 years of experience in the technology industry. He is one of the pioneers of blogging in the country and considered by many as the Father of Tech Blogging in the Philippines. He is also a technology consultant, a tech columnist with several national publications, resource speaker and mentor/advisor to several start-up companies.

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44 Comments

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Vince · 17 years ago

Well, i think the best way is to try it. As Yuga said, all transactions will still through your simcard.

however, i do agree that it is a valid reason to worry because Friendster is not really a secured social networking site because of their log off issue. Plus, the spam issues.

I also posted some tips on how we can avoid hacking problems of our emails, social networking accounts, and other website membership accounts.

Just visit this page:
http://wsmuniversity.blogspot.com/2009/02/issues-from-friendsters-gcash-feature.html

Please also post some comments so that it will help more people.

Israel Nicolas · 17 years ago

They can’t even correct their spam problems. Lol! I cannot imagine how this will work well.

Philippine Yobbo · 17 years ago

The problem with friendster is that you must explicitly logged out for your logged-in session to be terminated, unlike in myspace that when you close your web browser you are automatically logged off. Have you guys ever watched a feature in Imbestigador where a boy is being blackmailed by someone because he/she read some secret stored in the boy’s friendster message archive, they conducted an operation and caught the perpetrators who are just two ordinary girls who happens to be classmates of the boy. Do you really think those two girls have what it takes to crack the boy’s friendster account? I don’t think so. Blame it on friendster “permanent logged-in feature”.

ugag · 17 years ago

@BigBird nagpapatawa ka ba? Nagtatanung ka kung meron pang friendster? FS nga ang tawag mo sa friendster so updated ka for sure kasi FS ang in na tawag ngayon ng mga kabataan sa friendster hehehehe.

BigBird · 17 years ago

Meron pa bang FS?

jhay · 17 years ago

I agree, this would increase the hack attacks on Friendster accounts. A smart (pun intended) move on Globe and Friendster, as the latter is often used by Pinoys to keep in touch with relatives abroad. The whole package is completed by Yahoo! Messenger which they use to chat and talk online via video calls in most internet cafes.

Abe Olandres Editor-in-chief · 17 years ago

@Milo – just got a call from Globe GCash Product Manager and she told me all transactions will still be centralized to your Globe SIM (in terms of transaction logging, etc.).

deuts · 17 years ago

With so many friendster accounts being hacked (do you have a friendster account? try to look at your profile page), I don’t think it can trust into this system. Accounts are hacked with no money involved, what more if there are cash (or G-cash for that matter) now.