Hoping to draw attention to cryptocurrency, IHOP on Wednesday unveiled its first loyalty program, offering guests a chance to earn “PanCoins” from the International Bank of Pancakes as rewards.
No, it’s not actually a cryptocurrency – a fact that will no doubt disappoint those looking to dump dollars on just about any digital asset. But guests can use PanCoins to redeem food at IHOP, and every $5 spent earns loyalty members one PanCoin.
A PanCoin is worth a real pancake. Three PanCoins can be redeemed for a short stack, and loyalty members will find more offers through the IHOP app as the program evolves, the company said. PanCoins can also be exchanged for coupons on other groceries, products and experiences in the Stack Market.
The loyalty program officially launches in April, but those who sign up for an International Bank of Pancakes account between March 9 and March 29 will receive 10 PanCoins and $0 shipping on all orders placed through the app or website.
“It’s all about joy,” said Kieran Donahue, IHOP’s chief marketing officer. “We wanted to make it even more rewarding for existing and new guests to enjoy the time together, good food and the moments between bites that bring us so much happiness.”
Loyalty members can either pay at the table with a QR code or scan a code on their receipt that also automatically tracks their PanCoins. Rewards are also collected when guests order takeout or delivery through the website or app.
The rewards don’t apply to its fast-casual variant, Flip’d, or any of the brand’s non-traditional sites, Donahue said.
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