Petcoins is the points reward system on the Charisoil platform. It is redeemable for cash once a certain threshold is reached. In the future it can also be used to purchase petroleum products via the portal.
To fund this reward programme, five (5) percent of the income (Petcoin Fund) from sales will be set aside and this would form part of the marketing expense to encourage loyalty and reward our users.
A N1,000,000.00 spend is equivalent to P1,000. The exchange rate (and hence value of user petcoin) to naira will vary depending on the contribution in the Petcoin Fund.