BSP and Retailers Sign MOA on Coin Deposit Machines

The Bangko Sentral ng Pilipinas (BSP) and its partner retailers signed a Memorandum of Agreement (MOA) to deploy Coin Deposit Machines (CoDM) in an effort to promote efficient coin recirculation in the country.

In a ceremony held at the BSP Head Office in Manila, BSP Governor Felipe M. Medalla signed the MOA with SM Retail Inc. Controllership and Financial Planning Senior Vice President Jonathan H. Ng, Filinvest Land Inc. Deputy Chief Finance Officer Janeth B. de los Reyes, and Robinsons Supermarket Managing Director Stanley C. Co to deploy 25 coin deposit machines in select retail establishments located in Greater Manila and nearby provinces.

Automated CoDMs will allow customers to conveniently deposit coins and redeem their accumulated value from partner retail establishments through shopping vouchers or rewards card points. Alternately, customers may opt to directly credit the amount to their participating bank accounts or electronic wallets.

READ FULL STORY HERE: https://www.bsp.gov.ph/SitePages/MediaAndResearch/MediaDisp.aspx?ItemId=6413

PHOTO: www.bsp.gov.ph