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Singapore Airlines Unveils Blockchain-Based Loyalty Wallet KrisPay

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Singapore Airlines or SIA has launched a blockchain technology-based airline loyalty digital wallet, claimed to be the world's first of its kind.

SIA's KrisFlyer frequent-flyer program unveiled miles-based wallet KrisPay. It converts frequent KrisFlyer miles into digitized KrisPay miles instantly that can be used to pay for retail purchases at partner merchants through a mobile app.

Once transferred, KrisPay miles have a validity of six months. The members can use as little as 15 KrisPay miles, which is equivalent to about S$0.10, to make the transactions.

The wallet will be accepted at 18 merchants initially, spanning different categories of beauty services, food and beverage, petrol and retail.

The technology was developed in collaboration with KPMG Digital Village and Microsoft.

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