Singapore Airlines has rolled out a new blockchain-based digital wallet called Krispay for its Krisflyer frequent-flyer members that enables them to convert their airline miles into Krispay miles that can be spent on purchases at merchants across Singapore.
The new Krispay miles currently can be used at 18 merchants, and as few as 15 Krispay miles (roughly S$0.10/US$0.07) can be spent on purchases. Members can choose to either pay partially with miles and cash or fully with miles by scanning a QR code in the Krispay app when purchasing items.
Converting Krisflyer miles to Krispay miles can be done by using the app’s instant top-up function, and the app itself is available on the Google Play and Apple Stores.
These are the places where Krispay miles currently can be redeemed, with more expected to be added progressively in future:
“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 oh Choon Phong, CEO of Singapore Airlines.
This is the first blockchain-based loyalty digital wallet launched by an airline and follows Singapore Airlines’ announcement that it was developing the platform earlier this year.
In related news, Changi Airport recently announced that it aims to have most of its merchants accepting payments using Chinese mobile app WeChat Pay by the end of this year.
Business Traveller Asia-Pacific recently took an in-depth look at how blockchain-based technologies function and the future role they could play in the travel industry.