Chipotle is giving away $250,000 via Venmo over the course of 4 days to promote its new loyalty program (CMG)

Hollis Johnson

• Chipotle is giving away $250,000 over the course of four days to promote its new rewards program. 
• The chain is giving the money away via Venmo, with winners receiving between $1 and $500. 
• The "free money" giveaway will last from Tuesday until Friday at 11:59 p.m. PT. 

Chipotle is moving on from free burritos and giving customers money via Venmo. 

On Tuesday, the chain announced it is launching a new loyalty program called Chipotle Rewards. To promote the loyalty program, Chipotle is partnering with Venmo to give away up to $250,000 to roughly 25,000 customers. 

For a chance to win between $1 and $500, customers need to submit the phone number that is linked to their Venmo account to ChipotleRewardMe.com. Within 24 hours, winners will receive a payment from Chipotle via Venmo — complete with a custom Chipotle pepper emoji.

The "free money" giveaway will last from Tuesday until Friday at 11:59 p.m. PT. 

Read more: Chipotle is adding vegan and vegetarian options to the menu — here’s why the CEO says it is happening now

"Chipotle is one of the first brands to utilize Venmo’s technology to engage with customers through this pay-out feature on the Venmo app," Chris Brandt, Chipotle’s chief marketing officer, said in a statement.

Brandt continued: "Our customers have been asking for a loyalty program for a long time and we’re excited to partner with Venmo to reach their highly engaged network of digital-first customers to launch Chipotle Rewards, where the more you Chipotle, the more you can get free Chipotle!" 

Chipotle will also be giving away free chips and guacamole to customers after they place their first order via Chipotle Rewards. 

The new loyalty program awards 10 points for every $1 spent, with customers earning more points with certain "bonuses," like if they order new menu items. When customers reach 1,250 points, they will be able to cash out for a free entrée. 

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SEE ALSO: Chipotle is adding vegan and vegetarian options to the menu — here’s why the CEO says it is happening now

Source: Business Insider – ktaylor@businessinsider.com (Kate Taylor)