Sustainability
October 23, 2023

GCash provides users more protection when sending money

New in-app feature ‘Send Money Protect’ powered by global insurer Chubb via GInsure

The Void is not synonymous with stagnation; rather, it's a fertile ground for exploration and discovery. By understanding and embracing the Void, creatives can liberate themselves from the constraints of expectation and perfectionism. This liberation becomes a catalyst for fresh ideas, enabling a departure from the ordinary and a journey into uncharted territories of innovation.

Navigating the Void requires a willingness to confront uncertainty and silence the noise of external influences. It's a practice in mindfulness and self-discovery—a journey into the depths of one's own thoughts and emotions. In this solitude, creatives often find the raw materials for groundbreaking concepts, discovering connections and patterns that were previously obscured.

The process of engaging with the Void is not about avoiding challenges but transforming them into opportunities. It encourages a shift in perspective, viewing obstacles not as roadblocks but as stepping stones to innovation. By understanding 'the Void' as a realm of potential, creatives unlock the door to their most authentic and impactful work, revealing the beauty that emerges when the creative spirit is allowed to roam freely. In essence, the Void becomes not an abyss to be feared, but a sanctuary where creativity thrives, and our most brilliant ideas come to life.

Digital money transfers are now an integral part of our daily transactions. However, scammers, fraudsters, and cybercriminals have devised various strategies to take advantage of users and exploit the cashless economy.

In addition to utilizing top-notch cybersecurity systems, the Philippines’ #1 finance super app, GCash, has added another layer of protection with the introduction of 'Send Money Protect' (SMP) on its in-app feature, GInsure.  SMP provides users with confidence and peace of mind when  sending money digitally for as little as P30 per month. 

SMP provides users with comprehensive protection from the most common scams, including online shopping fraud, account takeovers, and social engineering, for their transactions done via ‘Express Send’ in the app. SMP, offered in partnership with Chubb, the world’s largest publicly traded property and casualty insurance company, can easily be availed once every 30 days. 

Studies show that 45% of Filipino adults have been targeted by scams, with 11% falling victim. This has led to uncertainties towards digital payment methods among some users, hampering milestones already achieved towards financial inclusion.

“We at GCash believe in building partnerships that amplify the value we provide to our users. That's why we've teamed up with Chubb, a global insurance leader and our partner in consumer protection, to bring you an added layer of protection. This collaboration ensures that you have  added financial protection from the unexpected when transacting online, giving you the confidence that your hard-earned money is in safe hands,” said GCash vice president for New Businesses Winsley Bangit. 

Chubb Philippines’ Country President Mari Rachelle Canta also emphasized that, “Our partnership with GCash further strengthens our mission to serve millions of customers by providing a safety net through embedding insurance in everyday transactions. Now, GCash users have enhanced protection from cybercrimes with "Send Money Protect.”

The partnership between GCash and its consumer insurance partner, Chubb, was solidified through a ceremonial MOA signing held on September 13. Signatories included from GCash: VP for New Businesses, Winsley Bangit and GInsure Head, Joseph Nino Young; and from Chubb in the Philippines: Country President, Mari Rachelle Canta and VP & Head of Consumer Lines, Maurice Hilario. 

The service aims to reinforce the confidence of users in being part of a financially inclusive cashless ecosystem that is safe from scammers, fraudsters, and cybercriminals. 

While this is currently in its beta version and available exclusively to GCash and Chubb employees for now, GCash has announced that it will be fully rolled out by November 13, 2023. This milestone product will soon be available to all, promising a safer and worry-free online transaction experience.

The parent company of Chubb in the Philippines, Chubb Limited, is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London, Paris, and other locations and employs more than 40,000 people worldwide.

You may also like these