The Philippine Competition Commission (PCC) has launched a second phase of review for GCash’s planned acquisition of a 100-percent stake in Electronic Commerce Payments Inc. (EC Pay) for P3 billion. In an emailed statement on Friday, Nov. 22, the competition watchdog said a second round of review...
Mactan, Cebu — Following the GCash incident, a Bangko Sentral ng Pilipinas (BSP) official stated that the central bank would strengthen its policies if the investigation revealed that the e-wallet platform was at fault for the unauthorized account deductions. On the sidelines of the...
(Unsplash) Deputy Minority Leader Bagong Henerasyon (BH) Party-list Rep. Bernadette Herrera has reiterated her call for a House probe on unauthorized transactions in digital wallets following the recent spate of unauthorized transfers involving...
A resolution seeking an official investigation on the recent spate of unauthorized transactions, scams and other irregulariteis involving GCash and other mobile financial services has been filed in the Senate. Senate deputy minority leader Risa Hontiveros, in filing Senate Resolution No....
Department of Finance (DOF) Secretary Ralph G. Recto has urged GCash, the Philippine Digital Asset Exchange (PDAX) Inc., and regulators to expedite the launch of GBonds for financial inclusion for Filipinos. Recto announced, during the Bureau of the Treasury’s (BTr) 127th Anniversary and...
The Cybercrime Investigation and Coordinating Center (CICC), an agency under the Department of Information and Communications Technology (DICT), announced on Monday, Nov. 11, that it is investigating the possibility of an "organized breach" of certain e-wallet accounts, which led to unauthorized...
The Bangko Sentral ng Pilipinas (BSP) said it is investigating a system error at GCash, the leading e-wallet platform in the country, which resulted in unauthorized deductions from user accounts over the weekend. In a statement late Monday, Nov. 11, the BSP said that it had instructed...
E-wallet operator GCash has fully restored funds that were inadvertently debited from some users due to an error in its system reconciliation process over the weekend. Ernest Cu, president and chief executive officer of GCash’s parent company, Globe Telecom Inc., told reporters during an...
E-wallet platform GCash has assured its customers that their accounts are safe following reports of unauthorized transactions. "We want to reassure our customers that their accounts are safe," the e-wallet platform stated, emphasizing that the incidents are linked to an ongoing system...
As the Philippines’ leading finance super app and largest cashless ecosystem, GCash marks its 20th anniversary this year – celebrating the pioneers and visionaries behind the trailblazing company. Today, GCash is the country’s trusted finance partner and only $5 billion unicorn, in a...
Mitsubishi Corporation’s acquisition of an indirect 6.8 percent stake in Globe Fintech Innovations, Inc. (Mynt) is seen to boost investor interest in the planned initial public offering of the GCash owner and its shareholders. Stock analysts said strategic investment by Mitsubishi will also open...
GCash, the Philippines’ leading finance super app and largest cashless ecosystem, was honored with the Climate Advocacy and Education Award - Philippines and Gender Equality and Women Empowerment Award - Philippines accolades at the ESGBusiness Awards 2024 for its exceptional climate action...
