GCash Offering Online Shopping Protection for Consumers

A study conducted by TransUnion regarding global trends shows that shipping fraud was one of the most significant threats which has grown by 780.5% from 2020 to 2021. These crimes are done by using a fake website or by sending bogus items posting as trusted online sellers and creating fake reviews and testimonials.

TransUnion said that in the Philippines,  suspicious digital holiday shopping fraud was up 70% in the same period in 2021 and up by 2% in the rest of the year 2022.

“Fraudulent activity tends to be particularly prevalent in online retail during the holiday shopping season,”  mentioned President and CEO of TransUnion Philippines, Pia Arellano.

With the increased number of online scams, GCash is offering its Online Shopping Protect to its consumers so online buyers can remain safe while making purchases digitally.

With their collaboration with global insurance firm Chubb, this new offering merges protection coverage in online transactions made through e-commerce platforms like Tiktok, Zalora, and Shopee.

For a set amount per month, consumers can have their purchased items protected from shipping errors, stolen, damaged, fake, undelivered, defective, wrong, or incomplete items.

Gcash’s Online Shopping Protect covers the majority of purchases, this would exclude items below ₱250, jewelry/watches, precious metals worth more than ₱5,000, concert tickets, fake or counterfeit goods, monthly-paid subscriptions, perishable goods, food, cosmetics, chemicals, plants, cash, cheques, stocks, shares, digital assets, currencies, bonds, vehicles and vehicle equipment, art, perfumes, antiques, items confiscated by the government, illegal items, animals, and livestock.

Source: Business Mirror