The leading mobile wallet joins digital leaders at the Seamless Asia Summit
During the recent Seamless Asia Summit held at Marina Bay Sands Expo and Convention Center in Singapore, GCash, The leading mobile wallet in the Philippines, shares its expertise in trust and security. The summit brought together more than 2,500 professionals from key regional banks, digital wallets, e-commerce retailers, and government agencies.
The Chief Risk Officer of GCash, Ingrid Berona, joined representatives from ING Bank, Fintech Alliance PH, Sompo Holdings (Asia) Pte Ltd, and Commonwealth Bank to lead a discussion on protecting payments from digital fraud. This marks the first in-person meeting since 2019, underscoring the importance of the event.
Beroña emphasized that while providing financial services such as affordable insurance and investment products, ensuring safe transactions and peace of mind are essential. He emphasized that fraud is not limited to one institution but affects the entire industry. By collaborating with law enforcement agencies and analyzing their data, financial platforms can identify vulnerabilities and adapt accordingly.
Continuous monitoring and learning is essential to stay ahead of fraudsters in an ever-evolving landscape. Beroña emphasized the need to proactively detect new fraud schemes and modus operandi, using the knowledge gained to improve security measures and create a safe environment for users.
Adaptation is essential to cybersecurity platforms to effectively address the changing fraud landscape. Beroña emphasized the importance of continued cooperation with law enforcement authorities to gain insights into the operations of cybercriminals. The information obtained from these collaborations can be used to conduct consumer education campaigns and protect users, ensuring a safer digital experience.
GCash implements its world-class security feature, DoubleSafe, throughout its platform. DoubleSafe uses state-of-the-art face ID technology, ensuring that only the account owner can access their account from another device. Even if users accidentally reveal their MPIN or OTP, their account remains inaccessible on a new device without scanning the owner’s face.
GCash also maintains close coordination with the Philippine National Police Anti-Cybercrime Group (PNP-ACG), the Cybercrime Investigation and Coordinating Center (CICC), and the National Bureau of Investigation (NBI) to strengthen prosecution efforts. of scammers and fraudsters.
By prioritizing trust and security, GCash aims to provide users with a safe and reliable mobile wallet experience, continuously improving security measures through collaboration, education, and the latest technology. .