Sorry Folks, Pepsi’s ‘Pepcoin’ Is Not a New Crypto

Many people believe that one of the main drivers for mass adoption is major corporations launching their own cryptocurrencies. But sadly, that isn’t going to be Pepsi just yet despite what some have suggested.


Pepcoin Is a Rewards Program

FMCG giant Pepsico recently announced a new rewards program called Pepcoin last month in conjunction with PayPal and Venmo.

But for those of you who wrongly assumed that Pepsi had begun its foray into the crypto world, Pepcoin is definitely not a cryptocurrency.

It’s not really anything, in fact, beyond a marketing ploy designed to incentivize purchases. Consumers simply rack up reward points when they scan product barcodes to exchange for cash in their PayPal or Venmo accounts. 

PepCoin has its very own website which describes the process of acquiring these new ‘pepcoins’. 

It’s Not a Cryptocurrency

Pepcoin’s name may feel somewhat misleading to a lot of people, particularly in the blockchain space. It certainly seems as if the company is piggybacking off of the trending cryptocurrency phenomena by adding the word “coin” in its name, in the hopes of appealing to the younger tech-savvy demographic.

 

It also seems feverishly complicated. If you want to earn cashback, it’s not as simple as buying a Pepsi product. You have to buy the right pair of products including a soft drink and a Frito-Lay snack in order to qualify for the rewards scheme. Not ideal if you’re only planning on purchasing single items.

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