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BSP, 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).
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The Bangko Sentral ng Pilipinas (BSP) and its partner retailers (SM Retail, Inc.; Filinvest Land, Inc.; and Robinsons Supermarket) recently signed a Memorandum of Agreement (MOA) to deploy 25 Coin Deposit Machines (CoDM) 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.

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