E-wallet use grew significantly during the pandemic and this is perhaps the reason why many SMEs survived and even thrived in 2020-2022, at the height of the pandemic. Know more:
E-wallet use grew significantly during the pandemic and this is perhaps the reason why many SMEs survived and even thrived in 2020-2022, at the height of the pandemic.
E-wallet app GCash is helping to protect its users from account takeovers with a new security feature called DoubleSafe. This is a good move because there are so many users whose accounts have been invaded by fraudsters. Young people on social media are particularly vulnerable to scams because most of them only have GCash.
Starting March 2023, GCash will require all users to activate DoubleSafe for an additional layer of security to their account. DoubleSafe will be activated for every first login to a new mobile phone with the feature making use of facial recognition, which means that even if a user mistakenly shares their MPIN and OTP to fraudsters, the account cannot be accessed from another device without scanning the owner’s face.
Never share personal information with people you don’t know. GCash only reaches out to its users through official channels and the company’s representatives will never ask for MPINs and OTPs.
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