ELECTRONIC WALLET platform GCash announced on Tuesday a partnership with property and casualty insurance company Chubb to enhance user protection against scams.
GCash introduced a “Send Money Protect (SMP)” feature in its app, providing coverage up to P15,000 for users affected by scams like online shopping fraud, social engineering, and account takeover when using express send.
The SMP feature is an optional product covering all express send money transfers to GCash accounts for 30 days, available for P30 per month or P1 a day, the platform said in a statement.
“It can be availed by following three easy steps when sending money: first, ensure the send money protect box is checked in the express send transaction screen,” GCash said.
“After which, tap the pop-up screen to confirm, and lastly, proceed to finish the express send transaction, which is now protected with SMP,” it added.
GCash Vice-President Winsley Bangit said that the new SMP feature adds an “extra layer of protection” against cyber threats.
“We make sure to be relentless in strengthening cybersecurity measures against scammers, fraudsters, and other cyber criminals,” he said.
“While due diligence is needed in making sure that online transactions are legitimate, we hope this brings more confidence to all knowing that you are covered in case you become a victim of fraud,” he added. — R.M.D. Ochave