Cheyenne Suarez

GCash to launch in-app OTPs to curb scams

Article (news)

Arthur Fuentes

ABS-CBN News

<div> </div>MANILA —  GCash will phase out text-message-based authentication codes this month, replacing them with more secure, in-app push notifications to combat a surge in digital scams, the company announced on Monday.The Philippines&#x27; largest mobile wallet announced it will fully roll out the &quot;In-App One-Time Passwords (OTPs)&quot; feature by June 22. The transition complies with a central bank directive ordering financial institutions to eliminate SMS-based OTPs by June 30, 2026, under the country&#x27;s strict Anti-Financial Account Scamming Act (AFASA).The Ayala-led fintech said that for years, cybercriminals have targeted text messages through phishing and spoofing to hijack user accounts. By moving the verification process entirely within the platform, GCash aims to eliminate external vulnerabilities.&quot;Our upgrade to In-App OTPs is a strategic move to put an end to phishable SMS OTPs. We will shift users to instant, GCash app-verified authentication, to increase the security of their daily transactions,&quot; said Miguel Geronilla, Chief Information Security Officer of GCash.The firm noted that the secure notifications will also streamline user experience. &quot;Instant, one-tap authentication also removes the need to switch apps, type codes, or wait for text messages to arrive, resulting in faster transactions and removing exposure to SMS OTPs that scammers and fraudsters can exploit,&quot; GCash said.The update is part of a broader push toward Multi-Factor Authentication (MFA) in the Philippines, where digital financial fraud has risen alongside the rapid adoption of cashless payments. GCash urged its millions of users to enable app notifications immediately to prevent transaction disruptions.

GCash said that by moving the verification process entirely within the platform, the app aims to eliminate external vulnerabilities.

GCash said that by moving the verification process entirely within the platform, the app aims to eliminate external vulnerabilities.