BSP and retailers sign agreement for Coin Deposit Machine project

The Bangko Sentral ng Pilipinas and its partner retailers — SM Retail, Inc., Filinvest Land, Inc., and Robinsons Supermarket — recently signed a Memorandum of Agreement to deploy 25 Coin Deposit Machines in select retail establishments. The BSP-initiated project aims to boost its Coin Recirculation Program and to promote financial inclusion and digitalization.

Consumers will be able to conveniently deposit their coins through these automated machines, and credit the corresponding value to their e-wallets, or convert to vouchers redeemable at The SM Store, SM Supermarket, SM Hypermarket, and Savemore outlets.