GCash Introduces Send Money Protect for Enhanced Transaction Security

GCash, a leading fintech player backed by Globe, has taken a significant stride in enhancing the security of digital transactions by introducing an in-app insurance feature, Send Money Protect (SMP). This innovative service is designed to shield users against the rising threats of scams and fraud associated with money transfers.

For a modest fee of P30, SMP offers users a comprehensive coverage for their Express Send or GCash to GCash transactions over a 30-day period, safeguarding amounts up to P15,000 against fraudulent activities. This initiative is a result of GCash’s collaboration with Chubb, a globally recognized insurance giant, marking a pivotal integration of scam protection within the digital wallet’s ecosystem.

Winsley Bangit, the vice president and group head for New Businesses at GCash, emphasized the company’s unwavering commitment to fortifying trust and security. He highlighted the multifaceted approach involving advanced cybersecurity technology, AI-powered systems, and the GSafeTayo educational campaign. Additionally, GCash’s proactive collaboration with law enforcement agencies underscores its dedication to combating cybercrime. The introduction of SMP is a testament to GCash’s dedication to providing users with an additional layer of security.

SMP specifically targets the most prevalent forms of scams, such as deceitful online selling practices and impersonation schemes aimed at manipulating users into unauthorized money transfers. To activate this added protection, users can conveniently opt for the “Send Money Protect” feature directly on the Express Send transaction screen. A simple click and reconfirmation process activates the insurance, offering peace of mind for the next 30 days for transactions up to the specified coverage limit.

This new feature from GCash not only addresses the need for heightened transactional security in the digital age but also instills greater confidence among users, encouraging them to engage in digital transactions without the constant worry of falling victim to scams. As online financial activities continue to grow, such innovative solutions are pivotal in fostering a safe and trustworthy digital financial ecosystem.