Globe Telecom Inc. mobile wallet unit GCash is set to roll out a double authentication in December to prevent unauthorized transactions brought about by phishing and other types of scams.
In a press briefing yesterday, Gcash introduced the “double authentication” feature which can ensure that only the account owner has the ability to link his GCash account to a specific device.
“This feature removes customers’ dependence on SMS one-time password (OTP) which has been exploited by some fraudsters to scam users. It will provide a unique identifier that can’t be phished by scammers. It also provides an additional layer of security to the current SMS OTP,” said Winsley Bangit, GCash chief customer officer.
GCash has also introduced a new product under its GInsure platform Online Shopping Protect where one get up to P20,000 in insurance coverage for incomplete deliveries, defective items, accidentally-damaged, or stolen products.
During the #GSafeTayo media launch, GCash also signed a memorandum of agreement with the Philippine National Police Anti-Cybercrime Group to strengthen collaboration in going after perpetrators involved in phishing, smishing, online fraud, e-scams, vishing, and other cybercrimes that take advantage of GCash users.
