The Singapore Airlines blockchain reward system is live with arrangements at eighteen merchants. The company’s frequent flyer program KrisFlyer now has a miles-based digital wallet called KrisPay.
The miles can be used to pay for purchases as small as 7 cents (US). The partner merchants include Esso Service Stations, Pizza Hut, LEGO stores as well as coffee shops and beauty stores. Some of the partners will offer discounts during the launch period.
Passengers need to convert their KrisFlyer miles into KrisPay miles to be able to use them. The conversion is instant, but the KrisPay miles expire after six months. The wallet is a mobile app, so to use the points at checkout, the merchant scans the customers KrisPay QR code.
“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, Mr. Goh Choon Phong.
Singapore Airlines developed the technology in collaboration with KPMG Digital Village and Microsoft.
Blockchain helps the airline to share information with its merchant partners. In fact, credit card companies are launching similar programs. For example, Amex started a pilot two months ago.
KrisPay claims to be the world’s first blockchain-based airline loyalty digital wallet.
AirAsia and Cathay Pacific also announced initiatives earlier in the year.