Buy, Scan, Cash In: PepsiCo Launches Cash Back Loyalty Program with PayPal and Venmo
PURCHASE, N.Y., Sept 12, 2019 /PRNewswire/ -- Mountain Dew® and Doritos® are purchased together nearly as much as peanut butter and jelly. That's because savvy snackers know and love the delicious pairing of a savory, crunchy Frito-Lay snack with a cool, refreshing PepsiCo beverage. Now, having the good taste to pair those two pays off thanks to PepsiCo's first-ever cash-back loyalty program—PepCoin by PepsiCo, a digital program that's perfect for the on-the-go consumer.
Now, when a consumer buys a single-serve PepsiCo beverage and Frito-Lay snack together (each specially marked), they can earn cash rewards. They simply need to scan the codes on the bag and under the bottle cap with their phone. Every time they accumulate $2, the money automatically transfers to their account with Venmo or PayPal. It's that easy: Buy, scan, cash in. The more you pair, the more it pays.
"Our mission at PepsiCo is to put smiles on consumers' faces with every sip and bite… there's no doubt PepCoin will do just that," said Linda Lagos, Senior Director, Marketing, PepsiCo. "PepCoin will give them a chance to earn a cash reward by enjoying their favorite snack and beverage combinations."
"We're thrilled to help bring PepsiCo closer to their consumers for the PepCoin loyalty program," said Leanne Sheraton, Vice President of Marketing, PayPal. "Venmo and PayPal's payout solutions provide the ability for physical brands to engage with their consumers digitally, while offering a convenient way for consumers to redeem and spend their cash rewards."
Consumers can go the classic Lay's-and-Pepsi route, or get a lot more creative. There are over a thousand pairing options, from Doritos Spicy Sweet Chili with Mountain Dew to SunChips Harvest Cheddar with Aquafina. Customers can create their pair from nearly 70 different PepsiCo drinks and Frito-Lay snacks, including brands like Pepsi, Mountain Dew, Lipton, Lay's, Doritos, Cheetos, Ruffles, Fritos, and SunChips. For more about this modern take on a loyalty program, including full rules and details visit PepCoin.com.
PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.
Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business. For more information, visit www.pepsico.com.
Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal's 286 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo, Xoom and iZettle, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PayPal Holdings, Inc. financial information, visit https://investor.paypal-corp.com.