Money transfer website GCash has stated that it will reduce the number of SMS transaction confirmations sent to its consumers in favor of the in-app inbox.
GCash released a notice explaining the change, saying it was being implemented to boost safety and make users’ transaction histories more accessible.
The recent proliferation of scam text messages that use the subscriber’s or the recipient’s name has led to this change.
The National Telecommunications Commission (NTC) has mandated that telecoms advise their consumers about the new spam text messages.
The change will first affect GCash transactions made to PAY BILLS on September 13 and subsequently to SEND MONEY and BUY LOAD on September 28.
Once enabled, users of the GCash app can keep tabs on their financial dealings by visiting the app’s Inbox or Activity tabs.
In addition to sending out spam SMS messages, fraudsters have started exploiting new GCash schemes that fool store owners and cash-in providers into divulging their one-time passwords
Maintaining the secrecy of your MPIN, one-time passwords (OTPs), and past financial dealings will add an extra layer of security.
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