How GCash Works: Everything Filipinos Should Know to Pay with GCash

Article by : Divya Gandotra Aug 7, 2024

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Live since 2004, GCash was established by Globe Telecom and is now one of the leading mobile wallets in the Philippines. Its approach to making online transactions is completely different, which translates into easier and faster transactions. Customers can use this mobile wallet to pay bills, shop online, transfer funds, and even try out investment opportunities, and all these options are available within a few taps.

The service is aimed at customers in the Philippines, so locals can use the method in daily life and for different online transactions, including shopping and online gambling. For sure, GCash keeps on gaining popularity among Filipinos, offering new features and increasing the number of customers using the method.

Here comes a thorough review explaining how GCash works, where it’s used, and how people can use this mobile banking method to pay online.

How GCash Works: Explanation & Guide

The wide range of functionalities offered by GCash allows Filipinos to use the method for different financial needs, be it an everyday transaction or an investment opportunity; everything within the same account. These are the most popular ways to use GCash:

• Send and receive funds: actually, it’s the basic feature which allows users to send or receive money through the GCash mobile wallet. This makes the service suitable for personal transactions.
• Cash in & cash out: you can top up your GCash wallet through various partner establishments, including convenience stores. Withdrawals are available at ATMs using the GCash Mastercard or GCash transfers to the bank account.
• Paying bills & digital payments: GCash can be used to pay utilities, such as electricity, water, and internet, and pay for digital goods and subscriptions, including prepaid phone credits (load) and gaming credits.
• Online shopping: Lots of Filipino merchants partner with the GCash method, which translates into smooth transactions via the wallet. Such payments take up to a few seconds and are straightforward.
• GCash QR codes: the method supports QR codes as the in-built function for in-store payments. Partners generate QR codes to pay for their services or goods, and users can scan the codes to quickly process the payment.

Sending and Receiving Money via GCash

GCash is convenient for sending funds between the service’s users and receiving real money. This can be processed through mobile numbers or QR codes. That’s how users send and receive funds through GCash:

• Through mobile numbers: to send funds via this method, it’s enough to enter the recipient’s phone number linked to the GCash account. After this, you need to double-check transaction details. Then, the incoming transaction will be displayed in the recipient’s GCash wallet.
• Via QR codes: it’s an alternative way which is convenient for physical payments. You need to scan the recipient’s QR code and accept the transaction. It’s convenient that you don’t need to enter a recipient’s phone manually, which allows customers to avoid risks of entering wrong numbers.

The method itself doesn’t charge fees for transferring funds between GCash accounts. Yet, you may come across extra fees when the method is applied on third-party services. If so, you will see an amount to transfer, including the fees, before you confirm the transaction.

GCash Beyond Sending and Receiving: More Functions

In addition to the basic features to receive and send money mentioned above, GCash can boast a range of additional options, making it suitable for different needs in the Filipino market. First of all, its system with QR codes makes the option global since lots of local stores apply this feature. Plus, the service has the ‘GInvest’ feature dedicated to investment opportunities right through the mobile wallet. Finally, GCash is suitable for online payments for bills and subscriptions directly through the app.

GCash vs. Other Platforms: PayPal, PayMaya

Unlike most other banking options, GCash is fully aimed at Filipino customers, though PayMaya and PayPal also operate within the country. It’s convenient that GCash is integrated with a wide range of local merchants, such as banks and billers. As for transactions between these banking options, users can transfer PayPal to GCash by linking the PayPal account through the app. However, there are no direct payments from GCash to PayPal, so customers need to use a linked bank account as a third party to process such a transfer. Both GCash to Paymaya and Paymaya to GCash transactions are also sent indirectly through a bank account linked to the service.

Popular GCash Scams and How to Protect Yourself

Unfortunately, scammers don’t miss an opportunity to exploit well-known brands, such as GCash, to invent fraudulent schemes. When you are aware of these schemes and don’t share your personal details with scammers, there are no things to worry about. That’s why we prepared a list of the most common GCash schemes and the ways to avoid them:

• Ponzi schemes: Such schemes promise customers high returns for referring others and using GCash for investments. New payments are spent to pay returns to earlier investors, and such schemes can collapse at any time, leaving others with losses.
• Phishing scams: When your Spam folder displays messages from GCash representatives stating that your account has been suspended and you need to send some personal data to verify it, don’t trust such messages.
• Social engineering scams: if scammers access a social media account of a person or create a fake one, they can contact friends, family, and others, requesting a GCash payment and creating a sense of urgency to use pressure tactics.

Besides revealing these schemes, you can also follow other basic tips to keep the highest safety level. You shouldn’t share your MPIN (mobile PIN) or OTP with anyone, especially when you receive suspicious emails requiring you to send these details. When you send money, verify the recipient’s details. Don’t use investment opportunities when you aren’t sure whether the company is credible. And finally, download the GCash app only from trusted sources, which are Google Play Store for Android and App Store for iOS.

Additional Security Measures for GCash

The other safety tips which are certain to make your GCash payments smooth include two-factor authentication (2FA) and reports when you come across suspicious activity. It’s also highly recommended to highlight fraudulent schemes you come across in order to warn others and prevent this activity.

Conclusion

GCash is an extremely popular banking option available in the Philippines. Its functions are diverse, including transfers between accounts, online payments, and even investments. The service’s safety tools are advanced, and when you also follow basic security tips and stay vigilant to reveal fraudulent schemes, you are certain to enjoy a safe GCash experience.