We propose a binary message passing decoding algorithm for product codes based on generalized minimum distance decoding (GMDD) of the component codes, where the last stage of the GMDD makes a decision based on the Hamming distance metric. The proposed algorithm closes half of the gap between conventional iterative bounded distance decoding (iBDD) and turbo product decoding based on the Chase--Pyndiah algorithm, at the expense of some increase in complexity. Furthermore, the proposed algorithm entails only a limited increase in data flow compared to iBDD.