Singapore Airlines announces the launch of miles-based blockchain digital wallet KrisPay
The Singapore Airlines (SIA), largely renowned for being a leading provider of high-quality flying services, has announced the launch of a KrisFlyer frequent-flyer programme. KrisPay, the miles-based digital wallet which enables members to convert KrisFlyer miles into KrisPay miles instantly for everyday spending at partner merchants island-wide. The launch followed a successful proof-of-concept exercise completed by Singapore Airlines earlier this year.
As reported on earlier by a writer from OpenGovAisa, SIA announced the successful proof-of-concept exercise and said it planned to roll out the app in 6 months and, as promised, the app made its debut on 24 July 2018 and is available for Android and iOS smartphones.
In February the Singapore Airlines CEO, Mr Goh Choon Phong had said that the ground-breaking development would involve SIA using blockchain technology to ‘digitalise’ KrisFlyer miles; a demonstration of the investment it was making to significantly enhance the digital side of Singapore Airlines business for the benefit of its customers. He had noted that the development of the digital wallet is in line with SIA’s recently unveiled Digital Innovation Blueprint, under which it aims to be the world’s leading digital airline.
Commenting on the launch on 24 July 2018, Mr Goh Choon Phong stated that the company was excited to be introducing KrisPay, a novel way for their 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 in everyday transactions.
According to a recent report, The outcome of the project is KrisPay, a digital wallet that is not only customer-centric but also allows SIA to onboard new partners and reconcile payments through the use of blockchain technology.
KrisPay is the world’s first blockchain-based airline loyalty digital wallet. The technology was developed in collaboration with KPMG Digital Village and Microsoft.
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.
For a start, KrisPay miles will be accepted at 18 merchants spanning different categories of beauty services, food, and beverage, petrol, and retail.
The list of beauty merchants comprises Browhaus, Qi Mantra, Spa Esprit, Strip, and We Need A Hero.
Food and Beverage merchant partners include Cedele, TWG Tea, Shangri-La Hotel (Origin Grill and Nami Restaurant & Bar), Gong Cha, Greenwood Fish Market, PizzaExpress, Toss & Turn, Workspace Espresso Bar, and Xiao Ban Beancurd.
In addition, 23 out of 62 Esso Service Stations will employ the innovative digital wallet as well as retail services, Challenger, M1, and LEGO® Certified Stores (Bricks World).
Selected partners will 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.
KrisPay is available for download now on the Apple and Google Play Store. Once it has been downloaded, members can easily 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.
Jan Reinmueller, Head of Digital Village, KPMG in Singapore, said that KPMG was delighted that SIA chose the KPMG Digital Village as their innovation provider. The app is an example of how KPMG Digital Village plays a role in driving innovation for corporates. He added that it was by building on their track record in business model innovation and digital transformation that KPMG Digital Village was selected to help SIA with their customer loyalty programme.
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