Singapore Airlines Released Its Blockchain-Powered Loyalty Program
As of July 24, Singapore Airlines customers will benefit from a blockchain-powered loyalty program.
The world’s most awarded airline, Singapore Airline, has officially released its blockchain-based fidelity program dedicated to frequent customers. The announcement was made on July 24 through a blog post.
Rewarding customers for their airline choices will be done using the digital wallet dubbed KrisPay, designed by KPMG and Microsoft collaborators. Travel miles will be converted into payment units and stored on user’s KrisPay wallet. The loyalty program called KrisFlyer is built on blockchain standards, the technology that supports as well the digital wallet, as reported in the Press Release.
“The innovative platform will allow members to choose from using as little as 15 KrisPay miles (equivalent to about S$0.10) to pay for their purchases at partner merchants, either partially or in full.”
Registered customers will be asked to download a mobile application with which they will turn their miles into KrisPay units. These can be used to purchase products and services from partner merchants by scanning QR codes.
There are 18 partners
Currently, the airline has unveiled the names of 18 partners in Singapore, with more ones joining in the near future.
“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,” stated Singapore Airlines CEO, Mr. Goh Choon Phong.
KrisPay is the “world’s first blockchain-based airline loyalty digital wallet” as described in the press release. It can be downloaded on the Apple and Google Play Store. Note that KrisPay miles have a six-month usage validity since they were transferred. Hence, make sure you’re using them until are no longer valid.