3 Reasons Why You Should Send Money Through GCash

Posted on Jul 28, 2022 | 3-minute read

With the takeover of smartphones and e-commerce in people’s daily necessities, the financial industry has been anticipating the death of cash transactions. While this was a thought for the past few years, the post-pandemic setting catalyzed online shopping and e-commerce payments to gain momentum. Buyers worldwide, particularly in the Philippines, leave their shopping carts and wallets behind following the movement restrictions imposed to avoid the spread of the COVID-19 virus. A recent survey conducted within Mega Manila and Cebu revealed that 84% of the respondents carried more cash in their wallets and migrated to cashless options, among them 64 percent used e-wallets while the rest used Quick Response (QR) payments and card payments. Among the 69 million internet users in the country, 75% of them shop online. According to the World Bank, 4 out of 10 use mobile wallets because of their modernized features and advantages. 

Many people ask, what exactly is a mobile wallet? It is the online counterpart of a physical wallet, that stores funds and can be used to pay for transactions whether at an establishment or to an individual. Most online wallets also store credit and debit card information as well as coupons and rewards just like how a conventional wallet stores cards and coupons. In a nutshell, it turns your smartphone into a wallet. 

Providing a cashless ecosystem in the Philippines with its 55 million registered users and 4.5 million merchants, Gcash is the leading micropayment service provider that transforms Filipinos’ smartphones into virtual wallets by providing fast and convenient money transfers, making it a household name for convenient electronic transfers. It has helped revolutionize transactions both in the country and abroad by bridging the gap between banked and unbanked transactions. 

With the country migrating to a cashless buying experience, here are reasons why you should send money through Gcash. 

Convenience In Going Cashless

Gone are the days when you suddenly forget your wallet at home, potentially ruining your day as you either miss out on things you have to do or are obligated to go back home when you have to purchase since payments can now be made within a few taps on your smartphone. This also eliminates the risk of your cash getting lost or stolen. Now all you have to worry about when leaving home are your phone and keys.

More and more establishments accept digital payments such as public transportation, retail stores, and restaurants. This saves you trips to the ATM or the need to make “pabarya” or break big bills. Aside from this, sending money to your loved ones can be done on your phone, regardless of where you are in the country.

With 4.5 million merchants using Gcash, customers may pay at numerous stores nationwide with their phones by sending money through the app or using a QR code. Click here to see where you can shop. 

 Multiple Cash In/ Out Outlets

Compared to Inter-bank transfers, sending money through e-wallets like GCash is made simpler and more straightforward as instead of transferring funds between different banks and going to the nearest branch of your bank to deposit or needing to go to an ATM to withdraw them, there is a myriad of more convenient ways to put cash in and get cash from your GCash wallet. 

GCash expands its boundaries by allowing its users to send money to non-GCash users with GCash Padala. For as low as 1% of the principal amount, you are able to send money anywhere in the country. All you need is 1 valid ID and you will be able to send money after a few taps on your phone. Receivers will then be able to claim the funds almost anywhere with over 2,000 GCash Padala partner branches. 

You can either transfer money from your bank account through the app or over-the-counter transactions with partner outlets. You can also load up your GCash wallet via remittances. With more than 10,000 outlets nationwide that accept cash in and cash out transactions, customers can avail of all that GCash has to offer, such as Cash In, Cash Out, Pay Bills and Send Money, all through places such as their local sari-sari store.

 Click here to find a GCash Pera Outlet near you. 

For more information regarding GCash Padala click on the link below: 

https://help.gcash.com/hc/en-us/articles/900006976623

 Reduces The Risk Of Fraud

Thanks to Financial Technology or Fintech, more opportunities for advancement have been made available to both businesses and consumers in terms of payment, streamlining money transfers regardless of whether personal or transactional. However, alongside these conveniences, fraudsters and thieves have made their way into the online world of e-commerce and mobile wallets, adapting digital payment methods a double-edged sword for those who do not fully understand the system of online payments and its potential risks While scams are nothing new to the Filipino citizens, scammers themselves have adapted to the rapidly changing times. With that being said, awareness is key to securing your hard-earned money online. 

While digital wallet providers, such as Gcash do their part by ensuring their systems are protected against attacks or theft, keep in mind that scammers target users instead of digital platforms, making everyone a possible target, so it is ideal to familiarize yourself with the different types of scams. A common type of fraud is committed by scammers pretending to be an employee of a government agency, reputable company, or even a member of the customer service team to collect your personal information via email or SMS. Another rampant scam nowadays that everybody may have encountered is random SMS or phone calls that announce that you won a certain cash prize and then are asked to pay a certain amount of money before claiming the prize. Most, if not all of the time, there is no prize, and victims of these scams are left with a painful loss

To address these customer-directed theft attempts, Gcash has worked with the  National Bureau of Investigation (NBI) and the Philippine National Police (PNP) to address these fraudulent attempts. Aside from barring over 900,000 users suspected of fraud from January to March, Gcash launched a campaign #GCheckMuna which empowers customers to protect themselves and become more vigilant in the face of fraud. 

#GCheckMuna has the following tips for its customers::

  • Tip 1: Never share your MPIN or one-time password (OTP). Scammers often pose as a GCash representative or a friend to trick you into giving your OTP. Remember that your MPIN or OTP is only for you.
  • Tip 2: Only do GCash-related activity inside the app. Some scammers use similar-looking phishing sites to ask customers to verify or log in. Beware of this scamming scheme! When asked to verify or log in, only do so on the GCash app. 
  • Tip 3: Be careful who you transact with. Before making any online transaction, be sure to research and read reviews on the product you’re buying and who you’re buying it from.
  • Tip 4: Only go to official GCash channels. For all concerns, go to the GCash Help Center (help.gcash.com).  For your safety, never post your inquiries on social media. GCash will never send any personal message to address concerns.

Sending money through e-wallets is prone to people cheating their way into their funds. Gcash, through its technology and awareness campaigns, aims to ensure its customers do not end up victimized. 

With GCash, sending money, shopping, and spending are made safe, contactless, and secure.

If you have any questions or concerns, visit the GCash Help Center to find solutions or submit a ticket for further assistance. 

Don’t have GCash yet? You can download the app on the App Store, Google Play, or Huawei AppGallery. Register to GCash and get verified today!

Resources:

No GCash yet? Download the GCash App now to pay with GCash!

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