Under the deal, GCash-operator Mynt will acquire 100% of the issued and outstanding share capital of ECPay, making ECPay a wholly-owned subsidiary of Mynt.
Two local technology groups have called on the fintech industry, particularly e-wallet firms, to institute stronger cybersecurity measures and consumer protection in the wake of recent unauthorized fund transactions on the GCash e-wallet platform.
The Bangko Sentral ng Pilipinas (BSP) has instructed GCash to immediately resolve the reported unauthorized deductions on account balances of affected GCash users and swiftly complete the process of refunds.
Before GCash came out with the statement that the issue was caused by “system reconciliation”, Manila Bulletin columnist Arturo Samaniego Jr., who was implicated recently by the National Bureau of Investigation (NBI) as a hacking mastermind, again tried to muddle the issue by claiming in his Facebook post that the losses experienced by GCash users was due to a phishing attack.
Financial technology services firm Ant International and its partners have launched a sustainability impact scorecard designed for Micro, Small, and Medium Enterprises (MSMEs) to facilitate sustainable transformation and access green financing opportunities.
The partnership enables the convenience of GCash's Scan-to-Pay feature most recently in the Chinese mainland, Hong Kong, Macao, Thailand, and the UAE at select Alipay+-enabled stores, bringing the total number of markets to more than 45.
For its 20th anniversary, e-wallet operator GCash is celebrating major milestones it achieved throughout the years that have made it a household name today.
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