GCash Assures Security With Customer Protection Measures

With the growing number of users of digital payments and transactions, there is also the growing concern on how to make them secure. But not everyone is technical enough that some may fall to traps of phishing and malicious sources. There are also instances when mobile phones got stolen or lost that makes its a risk of using them to transact using their identity.

These have been the concerns of that GCash also wants to assure its users as they use the app for various transactions. They recently launched  Customer Protect program that will address the concerns regarding fraud, and malicious transactions.

If there is an incident of  any irregular transaction s user should file a report regarding such as unauthorized withdrawals or point-of-sale (POS) purchases—on GCash’s official customer care channels within 15 days from the date of the said transaction. Eligible and valid disputes can be reversed for amounts of up to P100,000.

“The GCash Customer Protect program is a recourse that our valued users can take should they unfortunately fall prey to physical or virtual theft,” said Anthony Thomas, GCash president and chief executive officer.  

At the same time, the Customer Protect program is a campaign for increased cybersecurity awareness and education, especially regarding full verification of one’s GCash account. “It is extremely important for users to comply with the verification process of GCash based on the Know-Your-Customer (KYC) mandates of the Bangko Sentral ng Pilipinas,” explained Thomas.

Full verification on GCash requires a user to establish legitimate identity through submission of valid government identification cards and a selfie, as well as a series of mobile phone and contact information verification.

Fully verified GCash users can receive compensation of the actual amount of unauthorized transactions not exceeding P100,000. Semi-verified users can receive compensation up to P10,000 while basic users can receive up to P2,000.  

“Our intelligent risk management approach remains to be the first line of defense in protecting our users,” said Thomas. “Using our advanced risk capabilities, we analyze and monitor transactions round-the-clock to detect and prevent fraudulent activities.”

“Our Customer Protect program is an added benefit we extend to GCash users for their enhanced peace of mind and maximum enjoyment of the advantages that a fully digital lifestyle brings,” he concluded.