The move by the financial platform complies with a directive from the Bangko Sentral ng Pilipinas to phase out traditional text verification codes.
By delivering validation requests directly through secure push notifications, the company ensures that only authenticated device owners can authorise transactions.
The immediate one-tap authentication mechanism eliminates the need for users to switch between applications or wait for text messages to arrive.
GCash Chief Information Security Officer Miguel Geronilla stated:
Miguel Geronilla
“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.”
The update forms part of a broader strategy to deploy multi factor authentication, an established industry parameter that prevents unauthorised account access.
The secure protocol complements existing foundational protection layers, including strict know your customer verification protocols and advanced facial recognition barriers.
Featured image: Edited by Fintech News Philippines based on an image via GCash Press Release.
