GCash now empowers its customers with the Philippines’ first embedded online scam protection for money transfers, Send Money Protect or SMP.
For only PHP 30, this new GInsure feature gives them extra protection for all their Express Send transactions for 30 days, covering up to PHP 15,000 if they unfortunately get scammed.
Digital money transfers are now part of everyone’s daily lives. With this cashless economy comes scammers, fraudsters, and cybercriminals who constantly think of creative ways to try and take users’ hard-earned funds.
This is why GCash as the Philippines’ #1 finance superapp and largest cashless ecosystem, partnered with Chubb, a world leader in insurance, to launch the country’s first and most comprehensive embedded scam coverage when sending money via a digital wallet.
“At GCash, we make sure to be relentless in strengthening our trust and security initiatives – from utilizing top-notch cybersecurity technology and AI-powered systems, to ensuring our customers are educated through our GSafeTayo campaign. We also work very closely with law enforcement agencies to run after cybercriminals. In addition to these, we are excited to offer SMP so our users can have that option to give themselves extra protection against threats,” said Winsley Bangit, vice president and group head for New Businesses.
SMP protects users from the most common scams, like those done by a fake online seller, or scammers who pretend to be someone you know to trick you into sending money via Express Send.
This new product can be availed in three easy steps when sending money – first, ensure the Send Money Protect button is clicked in the Express Send transaction screen. After which, tap the pop-up screen to reconfirm, and then proceed to finish your Express Send transaction, now protected with SMP.
“While due diligence is needed in making sure that online transactions are legitimate, we hope our new solution boosts our users’ confidence to send money worry-free,” added Bangit.
By providing a safety net against unforeseen events, SMP contributes significantly to the financial well-being of users, in line with GCash’s vision of finance for all.