Wednesday, April 8, 2020

Is Pepsi’s Pepcoin truly a cryptocurrency?

The Takeaway:

Pepsico has launched a new loyalty program for its customers. It would allow customers to collect cashback after scanning a pair of specially-marked PepsiCo products. The participant also has to link his loyalty account to a verified PayPal or Venmo account.

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New loyalty program by Pepsi allows customers to earn cashback by pairing and scanning products of Pepsico. However, it is not as simple as it sounds. In order to earn cashback, you have to buy a qualifying pair that includes Frito-Lay snack and Pepsico beverage. And you also have to have a verified Paypal or a Venmo account to be able to take part in this program. 

Next, you have to create an account with Pepsi in which you will receive the cashback, and it will be linked to your Paypal or Venmo account. The codes from the qualifying pair will be entered in that account, and one pair will be worth 37 cents. There is also a minimum $2 threshold on the account. 

The program is only valid in the United States of America, and the participant has to be 18 years or older. And if a participant fails to submit a valid pair for 120 days, his account will be charged 25 cents or the total amount reflected in pepcoin account.

Back in April of this year, Pepsi filled trademark for pepcoin, which led many to believe that Pepsico might be working on its cryptocurrency. But pepcoin is not a cryptocurrency in any way. Some form the crypto community responded to pepcoin with some witty comments. Let us know in comments what do you think about PepCoin loyal program and if you’d participate in it or not?

 

Pepcoin is not a cryptocurrency but just another complicated loyalty program to lure new customers. Let us know in comments what do you think about PepCoin loyal program and if you’d participate in it or not?

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Thomas Allums
Thomas Allums
Although Thomas is an experienced writer, he is also a passionate musician who loves to travel often. He is based in New York and loves to spread the word about decentralization throughout his neighborhood.

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