Mobile wallet platform GCash announced it will transition to in-app one-time passwords (OTPs) via push notifications beginning June 22, 2026. The technical shift will fully replace the existing SMS-based authentication system to mitigate phishing scams and unauthorized financial account takeovers.
“Our upgrade to in-app OTPs is a strategic move to put an end to phishable SMS OTPs,” GCash Chief Information Officer Miguel Geronilla said in a statement on Monday. The company noted that the system change requires users to enable device-level push notifications to prevent disruptions to transaction processing and account activities.
Regulatory Mandate and Compliance
The implementation precedes the June 30, 2026, deadline established by the Bangko Sentral ng Pilipinas (BSP) under the implementing rules and regulations of the Anti-Financial Account Scamming Act (AFASA). The law mandates that supervised financial institutions implement fraud management alternatives or supplementary security measures to replace traditional text-based OTP codes.
According to GCash, sending authentication requests directly to an active, validated application session ensures that only the authorized device owner can access the security token. The feature integrates into the platform’s current security architecture, which includes Know-Your-Customer (KYC) identity verification and facial recognition protocols.
Corporate Operations and Context
GCash is operated by G-Xchange, Inc., a wholly owned subsidiary of Globe Fintech Innovations Inc. (Mynt). During the first quarter of 2026, parent company Globe Telecom Inc. reported an 8% increase in equity earnings from Mynt to 1.9 billion pesos, representing 30% of the telecom provider’s net income before tax.
The security infrastructure update comes amid broader corporate changes for the fintech firm. On June 17, 2026, Mynt’s board of directors and shareholders formally approved the filing of an initial public offering (IPO) registration statement with the Securities and Exchange Commission and the Philippine Stock Exchange, aiming to list a 12.0% post-IPO public float.
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This article is published on BitPinas: Goodbye SMS Codes: GCash Shifts to In-App OTPs Ahead of BSP Anti-Scam Deadline
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