GCash clarifies: Send Money Protect does not return sent money

GCash debunks false information about its new feature Send Money Protect.

File photo: GCash Send Money Protect

The Send Money Protect feature on GCash

GCash has formally launched its Send Money Protect (SMP), a cyber insurance service that protects users from scams.

At GCash, we make sure to be relentless in strengthening our trust and security initiatives - from utilizing top-notch cybersecurity technology and AI-powered systems, to ensuring our customers are educated through our GSafeTayo campaign. We also work very closely with law enforcement agencies to run after cybercriminals, Winsley Bangit, vice president and group head for New Businesses, said in a statement.

In addition to these, we are excited to offer SMP so our users can have that option to give themselves extra protection against threats, Bangit added.

SMP protects users from the most common scams, like those done by a fake online seller, or scammers who pretend to be someone you know to trick you into sending money via Express Send.

This new product can be easily availed when sending money via the GCash app.

Given that it is a relatively new feature for many users, there are still some who are confused about what SMP is really for. To address this issue, the e-wallet platform has issued clarifications.

According to GCash, SMP is an INSURANCE in case you become a victim of SOCIAL ENGINEERING or ONLINE SHOPPING FRAUD.

This is not an additional payment per transaction.

One-time payment of PHP 30 lang for up to PHP 15K protection for all transactions within one month, GCash said.

Take note that SMP will also NOT REFUND money sent and is not for wrong transactions like using the wrong GCash number.

SMP also protects shoppers and cannot be used for a transaction refund or a transaction reversal.

In case of a proven scam, the partner insurance company of GCash (Chubbs) will handle claims.

If you want to protect your transactions, here is a guide on how to use SMP.

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Source: GCash