Is PEPSI is an abbreviation of
"Pay Every Penny to Save Israel"?

Innovative Minds
www.inminds.co.uk

The first Pepsi-Cola Company was formed in 1902, and the name "Pepsi" was patented in 1903 - way before Israel was created.

The story about its name is as follows:

In 1898 Caleb D. Bradham, a small town pharmacist looked for a name that would better describe his formula which he was selling locally under the name "Brad's Drink." He bought the name "Pep Kola" from a local competitor and changed it to Pepsi-Cola.(*)

So PEPSI isn't an abbreviation, it doesn't stand for anything.

(* pepsi website)