‘KrisPay’, will allow frequent flyers to convert Krisflyer airmiles into digital currency.
The digital wallet app will be accessible for KrisFlyer members and will use blockchain technology to enable travellers to spend their air miles at retail establishments, hotels, petrol stations and other retail partner.
The launch comes off the back of the completion of a successful proof-of-concept trail in KPMG’s Digital Village in Singapore using a private blockchain developed in conjunction with Microsoft.
Available as an app on both Apple and Android platforms, KrisPay is the world’s first blockchain-based airline loyalty digital wallet.
Singapore Airlines CEO Goh Choon Phong stated:
“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.”
The wallet allows members to transact using as little as 15 KrisPay miles to pay for their purchases at partner merchants.
18 merchants including retailers, restaurants and fuel stations are participating in the launch.
Loyalty & Reward Co are interested to understand the role blockchain plays in the solution, with few details being provided by Singapore Airlines. While it sounds modern and edgy, could the same solution be delivered without blockchain technology, or is the blockchain critical?
And are Singapore Airlines considering transforming KrisFlyer Miles into a floating cryptocurrency as part of a future strategy?
Philip Shelper is a specialist loyalty consultant based in Sydney, Australia who obsesses about everything to do with loyalty and rewards. His company Loyalty & Reward Co are a leading loyalty consulting firm.
Phil is the author of “Blockchain Loyalty: Disrupting loyalty and reinventing marketing using cryptocurrencies.”
www.blockchainloyalty.io is a global resource centre for everything blockchain loyalty.
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