BDO Unibank, Inc. (BDO), SMAC (SM Advantage Card), and The SM Store have announced a partnership to make remittance pick-ups more rewarding for Filipino families through a new incentive program that links cash remittances to retail benefits.

Under the partnership, beneficiaries who claim BDO remittances at any SM Store Foreign Currency Exchange counter will now earn 1 SMAC point for every P10,000 received—points that can be used to shop across thousands of SM Retail locations nationwide, including SM Store, Watsons, Miniso, and other brands.

The initiative strengthens BDO’s push to make cash pick-ups more accessible and convenient through SM’s extensive nationwide footprint, while ensuring available cash, secure transactions, and added consumer value. It also expands SMAC’s ecosystem by integrating financial transactions into its rewards program at a time when remittances remain a major driver of household spending and retail activity.

The latest report from the Bangko Sentral ng Pilipinas said overseas Filipinos sent $3.12 billion in cash remittances in September 2025, a figure that is expected to increase as the Christmas season approaches – the annual period in which, according to RCBC Chief Economist Michael Ricafort, remittances spike as overseas Filipinos send more cash home for holiday spending.

“The faster and continued single-digit year-on-year growth in OFW remittances nevertheless is still a good signal/bright spot for the overall economy as an important growth driver, especially in terms of consumer spending, which accounts for about 73 percent of the Philippine economy,” said Ricafort.

With remittances expected to remain a major pillar of domestic consumption, contributing around 9% of GDP, the partnership is expected to generate new foot traffic for SM Retail this holiday season while offering families a practical way to stretch their budgets – turning essential remittance pick-ups into opportunities to earn points and reduce everyday expenses.