What could be a trial run into testing a loyalty program, Pepsi has launched PepCoin to offer cash back to its customers.
You have to buy a qualifying pair that comprises of a participating Frito-Lay snack and Pepsico Beverage (like a Pepsi and a FritoLay chips). Customers have to have PayPal or Venmo accounts to participate in this program.
The codes from the qualifying pair have to be entered into the your Program Account (account created with Pepsi to participate in the program). This program account has to be linked with your verified PayPal or Venmo accounts.
There is a minimum of $2 transfer threshold and users will not receive any transfer until the program account has at least the minimum amount.
Codes from one qualifying pair gives you 37 cents.
Program website states that "If a Participant has not submitted a pair of valid beverage and snack Codes for at least 120 days, Sponsors will deduct from theirProgram Account, monthly, the lesser of (i) 25¢ USD, or (ii) the amount then reflected in your Program Account (in either case, an “Account Maintenance Fee”)."
This is kind of disappointing that they want to claw back into the balances in the Program Account, but these are the rules.
Where to find the codes?
You can find the codes from specifically marked PepCoin by PepsiCo 20 oz. beverage products: Mtn Dew, Diet Mtn Dew, Mtn Dew Code Red, Mtn Dew Diet Code Red, Mtn Dew Live Wire, Mtn Dew Voltage, Mtn Dew Ice, Mtn Dew Ice Cherry, Mtn Dew Happy Dew Year, Mtn Dew Citrus Cherry, Mtn Dew White Out, Mtn Dew Pitch Black, Mtn Dew Throwback, Mtn Dew Merry Mashup, Pepsi, Diet Pepsi, Pepsi Zero Sugar, Pepsi Real Sugar, Pepsi Vanilla, Pepsi Cherry Vanilla, Pepsi Wild Cherry, Diet Pepsi Wild Cherry, Diet Pepsi Caffeine Free, Aquafina, Lipton Green Tea w/ Citrus, Lipton Diet Green Tea w/ Citrus, Lipton Berry Splash, Lipton Tropical Splash, Lipton Black Tea Peach, Sierra Mist and Mug. Codes can also be found on the front panel under the price on the following specially-marked PepCoin by PepsiCo snack products: Doritos Nacho, Ruffles Cheddar & Sour Cream, Lays Classic, Cheetos Crunchy Flamin Hot, Doritos Cool Ranch, Funyuns, Chesters Fries Flamin Hot, Cheetos Jumbo Puffs, Cheetos Crunchy, Doritos Spicy Nacho, Smartfood Popcorn White Cheddar, Fritos Honey BBQ Twists, Lays BBQ, Fritos, Cheetos Crunchy Flamin Hot Limon, Fritos Chili Cheese, Lays Salt & Vinegar, Lays Sour Cream & Onion, Funyuns Flamin Hot, Doritos Spicy Sweet Chili, Doritos Dinamitas Chile Limon, Cheetos Crunchy Xtra Flamin' Hot, Cheetos Jumbo Puff Flamin Hot, Lays Limon, Cheetos Crunchy Cheddar Jalapeno, Lays Kettle Cooked Jalapeno, Ruffles Flamin Hot, Sunchips Cheddar, Lays Dill Pickle, Fritos Flamin' Hot, Ruffles Jalapeno, Fritos Turbos Flamas, Munchies Flamin' Hot Snack Mix, Flamin' Hot Doritos, Flamin' Hot Smartfood, Ruffles Double Crunch Zesty Cheddar and Ruffles Double Crunch Hot Wings.
Unnecessarily complex reward system
This looks more like an expedition to gather customer data to lure into offers in the future rather than a genuine rewards program. The conditions to buy a qualifying pair, attaching penalties to the rewards account and linking cash account (instead of having a way to just use the program points directly for the merchandise) all lead us to believe that the company is on a mission to gather massive customer data (verified user data, not spam) in order to up-sell in future.
When does it start?
According to the site, it should start on 9/9/2019, that is today. However, it is not clear when exactly on 9/9/2019 since the site still says that we are too early to the party?!
Are we participating?
This is not for us.
This not Crypto - but we are pissed off that they are calling it PepCoin.
If it is a loyalty reward program - why can't we just cash out the loyalty points for Pepsico merchandise? Why are they insisting on verifying user accounts if not for future up-sell?
Why are they attaching penalties to a fun reward system?
This program is just too complex and not so brilliant in our opinion. But for those who are interested, please checkout their official page: https://www.pepcoin.com/
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Opinion. Not an advice of any kind.