THE Bangko Sentral ng Pilipinas (BSP) launched a campaign to promote coin recirculation using Coin Deposit Machines (CoDM) deployed in select partner retailers.
“Through the CoDM project, the BSP encourages the public to deposit their idle coins stored in their jars, piggy banks, and other containers in accessible, convenient, and efficient coin exchange facilities in participating malls,” the central bank said.
Partner malls include SM Retail Inc., Robinsons Supermarket Corp. and Filinvest Lifemalls Corp., it said.
The initial CoDMs were deployed in SM Mall of Asia in Pasay, Robinsons Place Ermita in Manila and in Festival Supermall in Muntinlupa, the BSP said.
Six more machines will be deployed in select locations in the next few days, it added.
The central bank said these machines would allow customers to conveniently deposit legal tender coins and directly credit the equivalent amount to their GCash electronic wallets. It said they also plan to onboard Maya Bank for the project.
“This is in line with the central bank’s payment digitalization and financial inclusion agenda,” it said.
Customers of SM MOA and Festival Mall may redeem the value of deposited coins in the form of shopping vouchers, the BSP said.
The machines will accept all coin denominations of the BSP Coin Series and the New Generation Currency Coin Series, it said. (ABS-CBN News)
