PepCoin: PepsiCo wants to pay you to eat and drink

What can make snack time even better? PepCoin is going to give consumers cash back for eating and drinking their favorite snacks.

PepsiCo is launching a game changer to the beverage and snacking industry. PepCoin will pay consumers for purchasing and enjoying their favorite snacks and beverages. Could this reward program even entice people to change their beverage loyalty?

Loyalty programs are well received by consumers. People want to feel that the purchases are valued by a company. But, this new program is a game changer for the snack and beverage industry. Instead of just earning rewards, the purchases come with actual cash back.

Previously, loyalty programs could take a long time to earn prizes, discounts and other incentives. With this new program, the rewards can be earned relatively quickly and the consumer gets something that she can tangibly use, cash back.

According to PepsiCo, this cash back program is simple. By purchasing a single serve, 20 ounce, specially marked beverage and a participating Frito-Lay snack, the consumer earns money back. By scanning the codes on each package, the consumer will accumulate money. Once a $2 threshold is reached, the money will be transferred either to a Venmo or Paypal account.

To put it quite simply, “the more you pair, the more it pays.” Who doesn’t want to earn cash back for something that you already buy?

PepsiCo to pay consumers cash back via PepCoin, photo provided by PepsiCo

Thinking about the idea of pairing beverages and snacks, the combination is classic. Who doesn’t grab a Mountain Dew with a bag of Doritos? What about a bag of Cheetos with a Diet Pepsi? Snacks and beverages go hand in hand.

Looking at the program, there are 70 different PepsiCo beverages and Frito-Lay snacks participating. Since consumers can choose their preferred pairings, there are “more than a 1,000 possible pairings.”

Now, someone could be challenged to find and try all the possible pairings. It might take a while to accomplish that feat. Still, it would reap the rewards of some serious cash back for those efforts.

Although this program is targeted at fans of the two brands, there is a possibility that some consumers might stray from their other beverage choices just because of the cash back offer.

Money talks and reward programs can sway decisions. In some ways, people could be willing to grab that bottle of Aquafina water or Fritos Corn Chips just because of this offer.

Additionally, it seems that this company is looking to secure its place across all levels of pop culture. From the recent NFL 100th season announcements to influence in the eSports arena to music tie-ins, these beverages and snacks are an integral part of everyone’s lifestyle.

In this announcement, the company didn’t specify the duration of this promotion.

What do you think of PepCoin? Will this cash back program influence your beverage and snack buying?