BSP and retailers sign agreement for Coin Deposit Machine project

DT·12 September 2022, 12:03 pm·1 min read

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BSP and retailers sign agreement for Coin Deposit Machine project — At the MOA signing with BSP retail partners: BSP Governor Felipe Medalla (third from right), Deputy Governor Bernadette Romulo-Puyat (second from right), Senior Assistant Governor and General Counsel Elmore Capule (far right), with SM Retail Inc. Controllership and Financial Planning Senior Vice President Jonathan Ng (third from left), Vice President for Treasury Jeffrey Ang (second from left), and Senior Assistant Vice President for Treasury Lisa Cham (far left).

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.