A strategic meeting between key officials from PNP-ACG and the security leaders and officers of the leading finance app, GCash, was conducted at the W Global Center in Taguig City. The meeting focused on strengthening PNP’s long-standing collaboration with GCash to combat fraud and cybercrimes.
For one, the PNP-ACG recommended policies and ordinances aimed at strengthening the security of digital financial transactions in local communities including sari-sari stores.
“Our partnership with digital financial institutions like GCash has become a necessity now that almost all transactions are done digitally, to the point that even sari-sari stores can be paid via e-wallets. It is therefore our responsibility of the PNP as a aw enforcement agency, and of course the LGUs, to make sure we are always updated, to help us foresee and prepare for anything that the cybercriminals will throw at us,”
said Cariaga.
During the meeting, GCash chief information and security officer Miguel Geronilla emphasized the app’s best practices in cybersecurity and trust technology as key components of its digital financial services.
“A huge part of our pursuit in GCash is not only to strengthen security measures in the app but also make sure that cybercriminals are punished while constantly reminding the public on how to safeguard their e-wallet accounts,”
said Geronilla.
As the largest digital ecosystem in the country, GCash ensures that it complies with the requirements of regulators by employing world-class security features that will protect users against scams.
“We continue to be an active partner of the government in going after cybercriminals and scammers to ensure Filipinos will have easy access to safe, secure, and convenient digital financial products and services,”
said GCash Chief Legal Officer Atty. Maricor Alvarez-Adriano.
The continuous collaboration of GCash with the authorities has led to the successful deactivation of 5.6 million accounts found to be linked to suspicious activities and rejected 2.2 million account takeover attempts. With its partners, it has also taken down 1,900 phishing websites and taken down 51,800 malicious social media posts.
With trust and security at the core of its business, GCash together with its partners from the government, continues to harness innovations that are accessible, safe, and easy to understand for the masses, leading to an impactful change for millions of Filipinos.
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.
