Singapore airlines has launched its blockchain-based loyalty program, after announcing plans for the move in February.
KrisPay has been developed by KPMG Digital Village and Microsoft, and will allow customers to convert their travel miles into units of payment. These ‘loyalty wallets’ are supported by blockchain technology.
Goh Choon Phong, CEO of Singapore Airlines, said: “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.”
There are currently 18 partner merchants at which customers can use their KrisPay tokens, includng eateries, beauty outlets, petrol stations and other retailers including Singapore’s LEGO stores.
The KrisPay app can be downloaded via the Apple or Google Play Store, and customers can pay for goods using a QR code.