GCash is easily the biggest finance app in the country right now. Hence, it’s no surprise that its users are highly susceptible to scams, fraud, and hacking. In fact, a study claims that 45% of Filipino adults are being targeted by scams, with 11% eventually falling victim.
This is why the company has announced a new offering called GCash Send Money Protect (SMP) through its insurance in-app feature called GInsure.
For as low as Php30 per month, you’re given comprehensive protection against the most common scams like online shopping fraud, social engineering, account takeovers, and transactions done via the app’s Express Send feature.
SMP is being offered in partnership with Chubb, one of the largest publicly traded property and casualty insurance companies. The insurance can be easily availed once every 30 days.
SMP is still in beta testing by GCash and Chubb employees but will be fully available to everyone by November 13, 2023.