Millions of Filipinos in the United States continue to have access to safe and instant remittance services to the Philippines as the country’s leading finance app and largest cashless ecosystem GCash reinforced its commitment to protect users through cutting-edge cybersecurity measures and fraud protection programs.
After launching its services in the US in March 2023, GCash has enabled over four million Filipinos to download GCash using their U.S. mobile numbers, allowing them to securely send money back to the Philippines instantly anytime, anywhere and cash-in in real time, or even pay bills for personal investments back home. Users that still have valid Filipino government-issued IDs may create a GCash wallet to access the GCash suite of services, while those who no longer have IDs can still download and use the app to send money.
Industry-Leading Security Features
GCash employs a strict "1 Device, 1 Account" policy, ensuring that only the registered device can access a user's account. This prevents cybercriminals from logging in from unauthorized devices and significantly reduces the risk of hacking. To further enhance security, GCash has also introduced a feature that blocks access from modified, jailbroken, or rooted devices. By allowing the app to run only on devices with standard security settings, GCash prevents potential vulnerabilities that fraudsters might exploit.
GCash launched "DoubleSafe", an additional layer of authentication that requires facial recognition during login attempts. Even if a user's Mobile Personal Identification Number (MPIN) and One-Time Password (OTP) are compromised, this feature ensures that only the rightful account owner can gain access.
Recognizing that cybercriminals are now leveraging artificial intelligence (AI) to carry out scams, GCash has integrated AI-driven security tools that analyze user behavior and account activity in real time. These tools proactively assess risks and detect unusual activity, helping GCash stay ahead of fraudulent schemes before they even happen.
A Commitment to Secure Global Financial Access
"GCash has grown exponentially in the Philippines, and we believe the next wave of growth is international,"
said Paul Albano, GCash International General Manager.
"Our mission for financial inclusion extends beyond the Philippines to our overseas Filipinos as well. We recognize the growing population of migrants in the US and want to make it easier for them to send money home, pay bills, and invest in their future. At the core of everything we do is user safety and security.”
For more information, visit https://www.new.gcash.com.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
Legal Disclaimer & Safe Harbor Statement
This press release is for informational purposes only and does not constitute, or form part of, any offer, solicitation, or invitation to sell, issue, purchase, or subscribe for any securities in the Philippines, the United States, or any other jurisdiction. No securities of Mynt, Inc. have been or will be registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. There will be no public offering of the securities of the Company in the United States. No money, securities or other consideration is being solicited by this document or the information contained herein and, if sent in response to this document or the information contained herein, will not be accepted. Any potential initial public offering and listing in the Philippines, if pursued, remain fully subject to prevailing market conditions and regulatory approvals, including the registration requirements of the Philippine Securities and Exchange Commission and the listing rules of the Philippine Stock Exchange, Inc., and there can be no assurance that any such filings will be made or that any offering or listing will be consummated. This document contains forward-looking statements that involve inherent risks and uncertainties; actual results, timelines, and outcomes may differ materially from those projected due to shifting market dynamics, economic environments, and regulatory updates.
