Pepsi Loot app for iPhone to showcase restaurants and reward shoppers.

Starting in June, Pepsico will partner with the location-based Four Square application to send discounts and other rewards to its loyal customers once they get close enough to a retail outlet that carries its products. The partnership is a way for Pepsi to drive traffic to those locations. But on top of this effort, Pepsi is planning to roll out its own mobile app called Pepsi Loot slated to be available this month on the iPhone. Through Pepsi Loot, customers can collect points that can be redeemed for various products and services, like free music download.
The main focus of the Loot app will be restaurants with about 200,000 of them participating in the program. The app will show Pepsi serving restaurants on a map, including menus and will allow users to sign-in to those locations, according to the New York Times.
Once they do, they start accumulating points that they can redeem for various products and services. On top of those freebies, the participating restaurants can also add their own offers to customers when they show the Loot app.

For more, see NYTimes.com