E-wallet service GCash announced that they would lessen the SMS transaction confirmations it sends to its customers and move them to the app’s built-in inbox.
In an advisory, GCash explained that the move will be done to help improve security and to make customer transaction history easily accessible to users.
This development comes after the recent spread of scam text messages, which now uses the subscriber or the recepient’s name.
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In fact, the National Telecommunications Commission (NTC) has ordered telcos to send warnings to its subscribers to help spread awareness regarding the new spam text messages.
The update will start on September 13 on PAY BILLS GCash transactions, then on SEND MONEY & BUY LOAD come the 28th.
Once implemented, users can monitor their transactions via the GCash app’s inbox section and through the Activity section.
Apart from SMS text scams, a new GCash scam also targets store owners and cash-in providers, which tricks them into giving them one-time passwords that would allow scammers to hijack their accounts.
That said, for an extra level of protection, make sure you keep all your transaction history safe, don’t share OTP to anyone, and make sure your MPIN is secure.