GCash adds biometrics for security

MANILA, Philippines — Mobile wallet GCash is strengthening its security measures with the introduction of a new biometrics feature in the mobile app.

GCash said users can now login to the app via face recognition and fingerprint identification, features that would further protect its customers from financial fraud and data theft.

While the MPIN and security questions provide sufficient protection to their accounts, GCash said the new biometrics login feature adds another layer of protection against unauthorized financial transactions.

“The trust and confidence of our customers is the most important asset that we have. As the most widely used fintech platform in the country, GCash has to live up to its promise of safe and secure transactions for every Filipino out there,” GCash president Martha Sazon said.

The GCash app allows a user to login via MPIN upon reaching three failed attempts in logging in using biometrics.

GCash said the new biometrics feature is also integrated as part of a risk check, which is particularly helpful in GCash Invest Money, wherein the app will ask the user to verify the transaction via one-time pin authentication as an added layer of security.

Sazon said now is the perfect time for the company to provide an additional layer of customer protection as more Filipinos turn to the use of mobile payments for daily transactions.

“Beyond inclusivity, security is part of the solutions that GCash offers to make life more bearable for Filipinos during a time of crisis. We will strive to innovate and think of more ways on how customers can have more protection as they navigate the new, digital normal,” she said.

As community quarantines were imposed in most areas in the country, GCash recorded a surge in activity, with at least over P100 billion in transaction value as of end-July.

“GCash is expecting to handle P1 trillion in transactions by the end of 2020, at the very least,” Sazon said.

“Our mobile wallet has significantly made an impact in Filipinos’ lives during the pandemic and we want to strengthen their trust in our brand even more. Thus, it is high time that we add an extra layer of security so that the greater public can continue with their transactions worry-free.”

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