GCash adopts Alipay’s risk technology to bolster security

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In keeping with the crisis-induced increase of activity in digital finance, GCash, the leading mobile wallet in the Philippines, adopted new and enhanced security and risk technologies by Alipay, the world’s leading open digital lifestyle platform.

Alipay recently upgraded its AI-powered risk engine, AlphaRisk to enhance its world-leading real-time risk detection and management capabilities.

“Security has always been at the core by which GCash operates, and as we transition to the new normal, we must provide a safer and more reliable user experience for GCash users. Through Alipay’s risk engine and technology, we are further bolstering our risk and security capabilities that will ultimately benefit our end-users,” GCash Chief Technology and Operations Officer Pebbles Sy said.

The acceleration of digital finance across the globe poses an overall concern over user security. With the integration of fintech into the new normal amid COVID-19, a new breed of fraud risks also arise due to potential cyber-attacks and identity theft, among others. This means that banks and fintech platforms have to prioritize fraud prevention and reduce vulnerability to crime in their digital strategies.

GCash responded to this by levelling up its security through Alipay’s risk engine and technology. The engine maintains a fraud loss rate of less than a 0.64 in 10 million. This means that out of P10 million pesos, only less than 0.64 centavos can potentially be lost due to fraud, which is significantly lower than industry average. 

With over 200 algorithms for risk profile adjustment thanks to the engine’s AutoPilot feature, GCash can employ the best risk management strategy as well as topnotch user experience. 

This means that GCash is almost invulnerable to losses due to fraud thanks to the enhanced technology. Since it detects all potential risks which threaten its customers’ money, it also leads to a worry-free user experience since subscribers can transact as much as they want without having to think about losing their money to fraud. 

AlphaRisk does this by quickly responding to risks detected by adjusting risk profiles within a short period of time. Not only did it help protect the 1.2 billion user accounts on Alipay and its wallet partners’ platforms, last year, over 10,000 Independent Software Vendors (ISVs) and merchants have upgraded security as well, and over RMB30 billion in funds have been protected from promotion abuse, which can damage a brand’s ability to retain and acquire customers.

In the local context, it also led to the launch of GCash Customer Protect last September, a program that ensures money-back guarantee for unauthorized transactions.

“At the beginning of our growth journey, we were facing challenges in adoption due to consumers’ lack of trust and security concerns. We have significantly decreased promotion abuse to less than 1 percent, and improved our security capability,” said Peach Lucienne Orbe, Head of Risk Decision Center at GCash. 

At present, GCash has over 20 million registered users who use the app for payment, remittance and financial services, as well as over 75,000 QR merchant partners.

Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom Inc.

GCash is available for download on the App Store and Google Play. For more information, kindly visit https://www.gcash.com/.

How to help to prevent the spread of COVID-19: There"s a convenient way paying bills through 'GCash

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Social distancing to avoid and prevent the spread of COVID-19. 
Pay bills even while at home using GCash. You can do paying bills online.

Most countries around the world is in the pandemic chaos, Coronavirus disease (COVID-19) an infectious disease caused by a newly discovered coronavirus.M ost people infected with the COVID-19 virus experience mild to moderate respiratory illness and recover without requiring special treatment.

Stay informed on the latest developments about COVID-19. Follow advice given by your healthcare provider, your national and local public health authority or your employer on how to protect yourself and others from COVID-19.

When the community quarantine, lockdown started, everybody is adviced to stay at home.

Social distancing is one very simple thing that we can do and that works. That’s because people didn’t interact with each other, and the virus didn’t spread.

The only way to truly reduce that is with social distancing: Keeping people home as much as possible, for as long as possible until this recedes. 

All sectors of the society must work hand in hand to fight the deadly virus and help people to survive living. Many are working from home to continue life, to have money to buy all they need and pay bills. 

However, even under quarantine, we still need to pay bills.

When we pay bills using GCash, we are able to have social distance and lesser physical engagement with other people where I may catch the virus.

It’s the easiest way to pay your bills, while keeping safe and not breaking quarantine.

It's very convenient using the "GCash Pay Bills" in paying utility bills. Instead of paying bills like, Maynilad and Meralco bills at a payment center out, we can pay it via GCash App while we stay at home

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GCash App offers an alternative way to pay bills that is fast, secure, and can be done easily via smartphone – all while staying home. From utilities to government fees, you can choose to pay over 400 billers nationwide for little to no extra fees.

Meralco and Manila Water said customers can also pay online and other payment channels such as GCash.

Pay bills with GCash and stay on top of your due dates. Download the GCash App today, register, then tap Pay Bills on the GCash dashboard to start.

You can check out the full list of GCash billers at https://www.gcash.com/billers/, where you’ll find additional details such as the length of payment processing, service fees (if there are any), and whether the biller accepts GCredit payment

Download the GCash App or register to GCash on Messenger, available for all networks!

Play Store: bit.ly/GCashAndroid
App Store: bit.ly/GCashiOS
GCash on Messenger: m.me/gcashofficial

How to Pay Bills with GCash

1. From the GCash dashboard, tap “Pay Bills.”
2. Choose the biller category of your bill payment.
3. Choose the biller and fill out the amount to pay and the account details.
4. Review your bills payment details before tapping “Confirm.”
5. Wait for the text confirmation of your transaction.

Prevention is better than cure! Stay safe and pay over 400 billers in the comfort of your own home by using the GCash App

Download it now:

Google Play: https://play.google.com/store/apps/details?id=com.globe.gcash.android&hl=en

Apple Appstore: https://apps.apple.com/ph/app/gcash/id520020791

Send Money and Receive Money for Free with GCash

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Leading mobile money provider shakes industry by offering first-in-nation innovation 

Remittances (a way of sending money) are a staple of Filipino culture, especially with lots of families depending on the money of their loved ones for sustenance. No matter where you are in the country, you’ll see remittance centers that offer these services from Metro Manila to anywhere in the Philippines, usually with a fee based on a percentage of the total amount to be sent. GCash realized that for these people, every peso counts, and that’s why they made sending and withdrawing money through the GCash ecosystem free. 

In a nation-first, the country’s leading mobile wallet provider GCash shakes up the local money remittance scene by innovating a free end-to-end remittance experience for their customers. 

GCash users can send money to other users anywhere in the Philippines for free via the GCash App, via the @gcashofficial Messenger official account, or by dialing *143# on their Globe or TM– from Luzon to Mindanao. In turn, the receiver can use their GCash Mastercard to withdraw at over 20,000 BancNet- or Mastercard-supported ATMs nationwide for FREE*, or cash-out PHP 20,000 per transaction on over 10,000 GCash Partner Outlets as well. ATM withdrawal fees from other financial service providers cost as high as PHP 20.00, while traditional remittance centers charge as high as PHP 500.00 for send money transactions around PHP 40,000. 

“Pinadalhan ako ng pera ng anak ko pambili ng gamot, dahil sa GCash walang bayad magpadala. No hidden charges, di nabawasan ang pera ko," said Bong Yusingco, a worker located in Quezon City. He was previously receiving his son’s remittances from a brick-and-mortar remittance center, but is now using GCash exclusively. 

Justine Concepcion, a private employee in Taguig City, is also utilizing the GCash App for other uses aside from money withdrawals, and said, “Any payment has been easy since I used GCash. I can pay my bills and enjoy my shopping without bringing my wallet! It is very convenient to use the GCash App and I save time! Not only that, I can withdraw money using my GCash Mastercard without getting charged.” 

“Sending and withdrawing money through the GCash platform is in line with Mynt’s drive for financial inclusion and enabling the unbanked. Through this, Filipinos can enjoy the services for free anywhere in the country, and ultimately show love to people who matter to them the most,” said Mynt’s President and CEO Anthony Thomas. Mynt is the operating company of GCash. 

Getting a GCash account is easy. Just download the GCash App for free from the App Store or from Google Play and sign up for an account. Alternatively, you can look for @gcashofficial on Messenger and sign up. 

Customers can get a GCash Mastercard by ordering online at www.gcash.com/mc-store/orders to be delivered to their location, or by going to participating Globe Stores with GCash Caravans, for as low as PHP 150. 

To fund their GCash account, a user can visit over 16,000 GCash Partner Outlets nationwide, like 7-Eleven, SM Business Centers, Robinsons Business Centers, Puregold branches, and Villarica Pawnshop branches, and tell the cashier to cash-in to their GCash account. Cashing-in to a GCash account is free.