The Singapore Airlines (SIA) Group’s has launched KrisPay, a blockchain-based digital wallet which enables its KrisFlyer frequent flyer programme members to convert air miles into digital currency.
Currently, KrisPay miles are accepted at 18 merchants across the F&B, petrol and retail categories in Singapore. Selected partners will also offer discounts during the launch period.
More merchants will be progressively added to the platform, and members can expect frequent in-app promotions and more app features to be delivered in the coming months.
The app, available for download, 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.
Once it has been downloaded, members can turn their KrisFlyer miles into KrisPay miles using the app’s instant top-up function. Once transferred, KrisPay miles have a validity of six months.
To pay for purchases, members simply need to scan the KrisPay QR code at the merchant, and key in the amount they wish to pay with their KrisPay miles.
KrisPay is the world’s first blockchain-based airline loyalty digital wallet. The technology was developed in collaboration with KPMG Digital Village and Microsoft.