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.
Attending the MOA signing with BSP retail partners were BSP Governor Felipe Medalla, Deputy Governor Bernadette Romulo-Puyat, Senior Assistant Governor and General Counsel Elmore Capule with SM Retail, Inc. Controllership and Financial Planning Senior Vice President Jonathan Ng, Vice President for Treasury Jeffrey Ang, and Senior Assistant Vice President for Treasury Lisa Cham.