GCash users can now avail protection coverage for their Express Send transfers against fraud.
Globe’s mobile payment service, GCash, introduces a new protection for users. It’s called Send Money Protect, a type of insurance that covers up to 15K for Express Send money transfers.
This protection feature is available via the in-app feature called GInsure, designed to give users a peace of mind while sending their money within the app. Like any other insurance, this is one has a cost but in exchange of “coverage” from these types of fraud:
- Social engineering: An attack to deceive users into opening emails, instant messages, text messages, and websites, and force them to transfer funds via GCash Express Send.
- Account takeover: An attack where a third-party gains unauthorized access to your GCash account and makes unauthorized Express Send money transfers.
- Online shopping fraud: An attack where you make an Express Send money transfer to buy an item or avail a service online from a third-party for personal use, however, the trading platform or website turned out to be fraudulent.
GInsure Send Money Protect can cover up to ₱15,000 once the claim is approved. But this insurance doesn’t work on all GCash accounts. According to the official website, there are exclusions and eligibility rules to avail the protection. One of the primary requirements is being a fully verified GCash user.
Send Money Protect is found in the Express Send money transfer process. See the images below.
This GCash protection feature is enabled in collaboration with the insurance company Chubb.
Enabling the feature during Express Send transfers will charge users with ₱30, automatically deducted from their GCash wallet.
