GCash, the country’s leading finance super app, on Thursday bared adding another layer of protection helping keep its subscribers safe from scammers, fraudsters, and cybercriminals.
The mobile wallet of Globe Telecom Inc. said the introduction of “Send Money Protect” (SMP) on its in-app feature, GInsure, extends to its users the confidence and peace of mind when sending money digitally for as little as P30 a month.
SMP provides users with comprehensive protection from the most common scams, including online shopping fraud, account takeovers, and social engineering, for transactions done via ‘Express Send’ in the app.
SMP, offered in partnership with Chubb, the world’s largest publicly traded property and casualty insurance company, can easily be availed once every 30 days.
Studies show that 45 percent of Filipino adults have been targeted by scams, with 11 percent falling victim. This has led to uncertainties in digital payment methods among some users, hampering milestones already achieved towards financial inclusion.
“We at GCash believe in building partnerships that amplify the value we provide to our users. That’s why we’ve teamed up with Chubb, a global insurance leader and our partner in consumer protection, to bring you an added layer of protection,” said GCash vice president for New Businesses, Winsley Bangit.
“This collaboration ensures that you have added financial protection from the unexpected when transacting online, giving you the confidence that your hard-earned money is in safe hands,” he added.
Chubb Philippines’ country president Mari Rachelle Canta also said: “Our partnership with GCash further strengthens our mission to serve millions of customers by providing a safety net through embedding insurance in everyday transactions. Now, GCash users have enhanced protection from cybercrimes with “Send Money Protect.”
The service aims to reinforce the confidence of users in being part of a financially inclusive cashless ecosystem that is safe from scammers, fraudsters, and cybercriminals.
While this is currently in its beta version and available exclusively to GCash and Chubb employees for now, GCash has announced that it will be fully rolled out by 13 November 2023.
