PepCoin: Everything You Need To Know
PepCoin is a rewards program announced and launched by PepsiCo in 2019 in collaboration with PayPal and Venmo. Participants earned 10% cash back. Its aim was to incentive people to consume more of the Foods and Beverage company’s products.
Considering the name, it was easy for many crypto fans and enthusiasts to assume Pepsi had begun its journey in the crypto world. However, that was not the case.
How it works
Those who wished to participate in PepCoin had first to visit its official site and set up a free account with a verified email. Once you create a user account, the next step is to link the account with either a PayPal or Venmo account.
More than 70 different types of PepsiCo drinks and Frito-Lay snacks enabled consumers to earn money back on their purchases. The products were specially marked for easy identification.
When you purchased the specially marked items, you’d go to the program’s official site, scan the 10-digit code or enter the numbers directly into the system. Once you reach a $2 threshold, the cash is transferred to your bank account via Venmo or PayPal.
Participants had to buy a pair of specially marked drinks and Frito-Lay snacks to be eligible for the 10% cash back incentive. Those who didn’t scan their drinks or snack codes within 120 days suffered a 25-cent maintenance fee.
Participants could also scan a maximum number of items each day: three drinks with three snacks. Another limitation was that it was only available to US consumers.
Why it’s not a Cryptocurrency
The announcement of Pepsi’s rewards program looked like another big win for the crypto space, considering how big a corporation PepsiCo is.
However, as it turned out, the American Food and Beverage Company was up to its regular marketing stints, trying to take advantage of the popularity of decentralized digital currencies.
The incentive to buy Pepsi’s products has nothing to do with the crypto space. Those who blindly rushed into it, thinking they would get cryptocurrencies were greatly disappointed.
As of 2022, PepCoin doesn’t seem to be in existence. Its official website is no longer accessible. It looks like the campaign ran for a limited time.
PepsiCo is known for coming up with some crazy but impressive marketing campaigns that work. PepCoin, while misleading for many crypto fans, they still managed to get many people excited to buy more PepsiCo products.
Author: Jay Jackson
Jay Jackson is a crypto trader, researcher and freelance writer. He works closely with people and businesses in the crypto sphere, writing blog posts, guides, press releases, reviews and ebooks.