In its bid to be the all-in-one financial platform in the country, GCash yesterday introduced another groundbreaking feature in its mobile wallet to attract more users and increase transaction volumes.
Louie Miguel Santos, risk policy lead at GCash’s mother company Mynt, said the Customer Protect program addresses the trust issues of most Filipinos on digital payments.
Santos said the program reinforces safety and security of GCash as a mobile platform.
Under the program, GCash users are assured of compensation for unauthorized financial transactions on their GCash app, GCash on Messenger or GCash Mastercard platforms arising from instances such as stolen mobile phones or identity theft.
A user should file a report regarding any irregular transaction—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.
According to Santos, 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.
Santos said the most popular services being availed of by GCash users are “send money” and “buy load.”