PepsiCo has announced the introduction of its PepCoin cash-back loyalty program that will enable consumers to earn cash rewards on the company’s products.

Under the PepCoin program, a consumer who buys a specially marked single-serve PepsiCo beverage and Frito-Lay snack together can earn cash rewards by scanning the codes on the bag and under the bottle cap with their phone. Every time they accumulate $2 in reward points, the money automatically transfers to their Venmo or PayPal account.

“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 of marketing at Purchase-headquartered PepsiCo.