GCash to roll out ‘double authentication’ feature

Globe-backed mobile wallet GCash on Thursday announced it will roll out a new security feature in a bid to prevent unauthorized transactions amid the proliferation of phishing and other types of scams.

During the GSafeTayo campaign launch in Makati City, the financial platform introduced the “double authentication” feature —an added layer of authentication wherein the account holder will have to take a selfie to verify his identity through facial recognition.

The new feature, which will be rolled out in December, will 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 OTPs (one-time password) 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,” Winsley Bangit, chief customer officer of GCash, said.

“We never stop innovating to make sure our 71 million users have the safest and most convenient experience when they use the app,” Bangit said,

During the event, GCash signed a memorandum of agreement with the Philippine National Police Anti-Cybercrime Group (PNP-ACG) 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.

“I would like to express my confidence that through our stronger partnership with the PNP-ACG, we will be able to achieve more in the prevention, investigation, and prosecution of cybercrimes. GCash also assures the PNP-ACG that we will do whatever we can in order to successfully implement our agreement,” GCash chief legal officer Atty. Maricor Alvarez-Adriano said. —LBG, GMA Integrated News