GCash faces another bank transfer glitch

Meg Adonis 11/23/2024

Just days after users reported unauthorized deductions from their accounts, popular e-wallet platform GCash faced another issue. On Friday afternoon, the Ayala-backed company announced that its bank transfer feature via BancNet was experiencing problems, though the cause…

Internal glitch, not hackers, behind GCash unauthorized deductions

Charie Abarca 11/20/2024

MANILA, Philippines — The unauthorized deduction on balances of some GCash users in early November was triggered by an internal glitch and not by hackers. This was according to Sen. Sherwin Gatchalian who was speaking on behalf…

Ayala to sell half of GCash stake to Mitsubishi for P18.4 billion

Meg J. Adonis - @inquirerdotnet 10/18/2024

Ayala Corp. is selling half of its stake in popular e-wallet GCash to Japan’s Mitsubishi Corp. for at least P18.4 billion. As a result, Mitsubishi will own 50 percent of AC Ventures Holdings Corp ., which in…

Lapu uses mobile wallet to collect traffic fines, environmental fees

Futch Anthony Inso 08/12/2024

LAPU-LAPU CITY, Cebu – The Lapu-Lapu City government launched on Monday its “Digital Payment System” for the collection of environmental fees and traffic fines. Under the city’s digital system, violators will now be able to use G-cash…

GCash poised for largest IPO in PH history after valuation hits $5 billion

Tyrone Jasper C. Piad 08/04/2024

The anticipated initial public offering (IPO) of GCash looks promising as its valuation doubled to $5 billion with new funds from Ayala Corp. and Japan’s largest bank MUFG Bank Ltd. Globe Telecom, parent firm of GCash operator…

Gcash assures accounts safe, claims no proof of hacking

Tyrone Jasper C. Piad - @inquirerdotnet 07/02/2024

The popular e-wallet Gcash assures on Monday that it has not found any indication of hacking yet and that accounts of Gcash users have remained safe. The Ayala-led company said this as the investigation of the alleged…

GCash IPO delayed as parent firm assesses market conditions

Tyrone Jasper C. Piad 02/08/2024

MANILA, Philippines  —Investors are waiting for GCash to join the local exchange. However, its parent company said that they are still reviewing the market before deciding to launch an initial public offering (IPO). The company had initially planned…

Vote-buying via e-wallets will be closely watched, offenders face jail time

10/25/2023

MANILA, Philippines — Vote-buying through e-wallets and other digital payment platforms will be closely monitored by the Department of the Interior and Local Government (DILG) and the Commission on Elections (Comelec) with offenders facing possible jail time.…

Privacy body gets bomb threat, manhunt for perpetrator ongoing

Alden Monzon, Dexter Cabalza 05/13/2023

The National Privacy Commission (NPC) on Friday received an online bomb threat, about an hour after it ended a meeting with GCash representatives over the temporary disappearance of money from the accounts of the e-wallet firm’s users. The bomb…

Confidence in e-wallet safety is put to the test

Julie M. Aurelio, Tyrone Jasper Piad 05/11/2023

The unauthorized deductions in GCash users’ account balances have raised concerns on whether or not the use of e-wallets is safe for Filipinos who have gotten used to transacting via these financial platforms, especially during the pandemic…

What is phishing and how to avoid this?

Morexette Marie B. Erram 05/10/2023

CEBU CITY, Philippines – As the use of financial tech (fintech) services in the country widens, so does the risk of cyber attacks. Filipinos around the world were shocked to learn when a systemwide maintenance and downtime…

GCash foils P37-M hack try; seized funds to be returned to users

Daxim L. Lucas 05/09/2023

MANILA  – GCash, the popular digital payments app of Globe Telecom Inc., foiled attempts by suspected hackers to siphon off millions of pesos from its clients after the company detected a pattern of relatively small withdrawals from…

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