Blockchain service for Singapore airline customer. Travel miles can be converted into a unit of payment in the Krispay wallet.
Singapore Airlines, in partnership with KPMG and Microsoft, has developed a blockchain-based wallet KrisPay which can be used by frequent passengers. The eligible customers can download an app in their mobile and can sign up with the program and can convert their travelling miles into units of payment.
The platform will allow members to choose from using as little as 15 KrisPay miles (equivalent to about SGD 0.10) to pay for their purchases at partner merchants, either partially or in full.
“We are excited to be introducing KrisPay, a novel way for our KrisFlyer members to digitally access their miles at their fingertips, at any time. By creating a miles-based digital wallet which integrates the use of miles into their daily lives, KrisFlyer members have yet another way to use miles instantly on everyday transactions,” said Singapore Airlines CEO,Goh Choon Phong.
The units that are gathered in the wallet can be utilised to pay for day-to-day expenses, scanning a QR code. Before releasing this block chain service, the airlines conducted a successful proof-of-concept trial with KPMG and Microsoft.
related news
The announcement arrives a week after the airline was awarded as the best airline in the world, winning World Airline Awards by Skytrax in London.
Singapore Airlines has confirmed having 18 partners in this scheme, currently. These include merchants in different businesses like beauty parlour, retailers, gas stations, eateries and also nation's LEGO store outlets.
The airline has also announced a discount for early users. More merchants are expected to be signed up soon, as the concept gains more momentum with time. The airline plans to launch the first block chain service in February.