GCash limits transactions to curb vote buying

GCash limits transactions to curb vote buying | Daily Tribune

E-wallet GCash is set to implement a temporary limit on daily transactions ahead of the midterm polls to curb vote buying.

According to GCash, this aligns with the Commission on Elections (Comelec) Resolution No. 1104 which cracks down on vote buying and vote selling.

“This aims to prevent vote-buying and other types of misuse of money related to elections,” GCash said in Filipino.

“GCash will monitor transactions to ensure they are not being used for illegal activities. If you reach the daily limit, you will be able to transact again the next day,” it added.

Business users are likewise subject to these temporary restrictions to ensure that all financial activities are transparent and orderly during the election, according to the finance app.

GCash said the “Express Send” and “Send via QR” will be temporarily unavailable once the daily limit has been reached.

“These measures are for fair and secure elections. By preventing financial influence on people’s votes, we can ensure that the election results truly reflect the voice of the people,” it added.

According to Comelec Resolution 1104, “any unusual transaction flow between accounts, digital banking and digital wallets, including large cash withdrawals involving the amount exceeding P500,000, encashment of checks, during election period, which have no underlying legal/trade obligation, purpose or economic justification or the amount involved is not commensurate with the business or financial profile of the client, shall be considered suspicious transactions of vote buying and vote selling.”

Meanwhile, Comelec Chairperson George Garcia on Friday expressed gratitude to GCash for the implementation of a daily transaction limit, admitting that the poll body’s efforts to ensure a fair, clean, and honest elections “has been met with limitations and challenges” due to individuals wanting to fraudulently influence the outcome of the elections.

Garcia said a very good example of such exploited technology is online transaction using electronic money as the ease and convenience of online transactions “attracts malicious individuals to buy and/or sell votes for or against a candidate.”

“Imposing a daily limit on transactions for GCash, the most ubiquitous mobile payment service, will be instrumental in curbing attempts to buy votes. This will be crucial during the few days before the elections, which is usually when rampant vote-buying occurs,” the Comelec chief added.

The GCash limit will remain until Election Day, 12 May. Transactions will be back to normal on 13 May.