Activity 3: Contactless Card & Payment App

How a contactless card or smartphone app works?

    Contactless Card has an antenna and a tiny chip. The chip in the card is powered by radio waves that the card reader emits when you tap it on it. To finish the transaction, the chip then securely talks with the reader. Smartphone App uses Near Field Communication (NFC) technology. The smartphone and NFC-enabled payment terminal communicate wirelessly to process payments securely by exchanging encrypted data.

GCASH Scan QR and Express Send

To pay via Express Send, follow the steps below:

• On your GCash homepage, tap Send.
• Select Express Send.
• Enter the mobile number and amount you wish to send. Tap Next.
• Check the box to confirm that the details are correct. Tap Send.

To pay via Scan QR, follow the steps below:

• Open your GCash App, tap on 'Pay QR' then tap 'Scan QR Code'.
• Align your mobile phone's camera over the GCash QR code to scan it. Wait for the next page to load.
• Key in the amount of course in the Payment screen and tap 'Next'.

Between the GCash card/app and the card reader, the following information is sent:

• Payment details: This could contain information on the particulars of the transaction, including the amount being purchased and the vendor.

• Unique identifier: A unique token or identifier that uniquely identifies the user's account may be transmitted by the GCash app or GCash card like contact number and account name.

• Authentication data, such as reference number, are bits of information that verify the authenticity of the transaction.

• Encryption keys: These keys are used to encrypt and safeguard the data being sent, ensuring the privacy and security of the transaction like code that is sent to your mobile number for confirmation.

    Transaction limits will remain the same even if user have multiple accounts. GCash consolidates multiple accounts that are under one user into one wallet. User wallet and transaction limits depend on which wallet profile they have.

Why is there an upper limit?

    As part of GCash's compliance with the Anti-Money Laundering Act of 2001 mandated by the Bangko Sentral ng Pilipinas (BSP), GCash has set limits on wallet balance and transaction amounts in order to protect users from financial institutions being abused through money obtained from illegal sources (drugs, smuggling, arms dealing).

    A wallet limit is the maximum amount of funds that can be kept in user's GCash Wallet. Transaction limits are the maximum amount that can be received in user's wallet (incoming) or sent from it (outgoing). User transaction limit resets every start of the month.

How many times can you use Gcash in a day?

    GCash usually doesn't have a daily limit on how many times you may use it. You may send and receive money, pay bills, buy goods and services, invest, and do a lot more using GCash. You can use it as much as you need to. Individual transactions, however, can be subject to particular restrictions set by GCash or the participating merchants, such daily or maximum transaction limits. Checking any limits or restrictions that may apply depending on the kind of transaction you're making is necessary.

What happens if you have two online payment apps in the same mobile phone?

Advantages:

• Flexibility: More choices for selecting preferred services, getting incentives, and handling money.
• Redundancy: Makes sure that payments continue even if one app has problems.
• Access to Diverse Services: Offers connections and exclusive features.
• Discounts and Promotions: Chances to take advantage of special offers and cashback incentives.

Disadvantages:

• Security risks include a higher chance of intrusions or illegal access.
• Confusion: The possibility of confusion caused by different processes and interfaces.
• Storage and Resource Usage: Decreases performance and uses up device resources.

Process for lost SIM card or phone link to Gcash account

    In the event of misplacing the SIM card or phone linked to a GCash account, the user should promptly notify their mobile network provider to deactivate the SIM card and safeguard the account. Contacting GCash customer service is imperative to report the loss and seek assistance in linking a new SIM card or phone to the account. Essential account details must be provided, and if required, identity verification should be provided. Following the instructions provided by GCash is important for updating account information and preventing unauthorized access. It is advisable to take preventive measures against potential theft or unauthorized access by enhancing account protection and ensuring the security of the SIM card and mobile device.

If the SIM card or phone linked to user's GCash-registered account was lost,

• Contact the network service provider to get a new SIM Card.
• Report to GCash immediately the mobile number of the lost phone or SIM.
• Provide all the information required.
• Once finished, GCash customer support will temporarily suspend the account to keep user's funds safe. Please take note of the 8-digit reference no. given by the GCash customer support agent. The reference number will be asked when the user request to lift the suspension.

Once the user get a new SIM card with the same number, they need to:

• File a request to Gcash help center to lift the suspension of the number.
• Provide all the information required .
• Input the 8-digit reference number provided during the account suspension request.
• Once finished, the user will receive an email regarding the status of their account within 24 hours.

Tips for a secure account

Make sure to enable all security features (Biometrics Login, Security Questions) from previous account and to always keep MPIN and other information updated.

References

• GCash Help Center. (n.d.). https://help.gcash.com/hc/en-us

• GCash: Everything you need to know (make life easier) - go!. Globe. (n.d.). https://www.globe.com.ph/go/technology/article/gcash-everything-you-need-to-know.html