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Singapore Airlines Launches Blockchain Based Loyalty Program – Krispay

In-line with other Asian countries embracing blockchain technology and the virtual currencies it supports, Singapore Airlines has launched a blockchain technology based loyalty program to benefit its frequent flyers. The SIA Group announced the reward program on Singapore Airlines website during a July 24, 2018 press release. It mentioned that “KrisFlyer” – airlines frequent flyer programme has launched “KrisPay”, a miles-based digital wallet which enables patrons to convert KrisFlyer miles into KrisPay miles instantly for everyday spending at partner merchants all over the country.

According to Singapore Airlines, KrisFlyer has created a unique platform to give back to the patrons for frequently flying with Singapore airlines. With the introduction of a new digital wallet, users will be able to frequently and seamlessly convert their miles to indulge in everyday goods and services.

Customers can now download KrisPay on Apple store – for iPhone users and the Google Play Store – for android users. Post download, users can easily convert their KrisFlyer miles into KrisPay miles to begin shopping, with the miles carrying a legitimacy of 6 months before expiration. To further streamline their shopping experience, customers can now just scan the QR code at the desired stores to instantly pay with their accumulated miles.

KrisPay is the world’s first blockchain-based airline loyalty digital wallet. The technology has been developed through the joint collaboration between KPMG Digital Village and Microsoft.

The introduction of such a novel platform proves to be very beneficial to dedicated Singapore Airlines flyers. They can use a minimum of 15 KrisPay miles – approximately equal to S$0.10 – to purchase goods and services. By setting the minimum amount of miles to such a low amount of just 15 KrisPay miles, allows even the new flyers to become interested and benefit from their new program. This proves that Singapore Airlines is trying to expand and include more individuals and customers into their frequent flyers programs by providing such innovative incentives.

The line of goods and products that customers can avail from merchants using their new digital wallets is also expanding. To start with, KrisPay miles will be accepted at 18 sellers offering a wide array of goods and services: beauty, food & beverages, gasoline and retail to name a few. To further incentivize customers to avail this new feature, most merchants will be offering discounts during the launch and the start up of this initiative. Singapore Airlines also assured that they will continue to find and add new sellers to their loyalty program and launch new application features.

Following the launch period, it will be necessary to gauge the reception of the KrisPay application. Whether customers will want to convert their miles for a shopping experience or continue to use it for in-flight advantages and upgrades will surely be determined by the added incentives offered.

Singapore Airlines Limited is the most popular airline based out of the Singapore Changi Airport. It has continued to be ranked as the world’s number one airline and has won top spot as the “Best Airline in Asia.” Headed by Peter Seah Lim Huat – the Chairman – and Goh Choon Phong, the CEO, Singapore Airlines flies out to 64 destinations worldwide and has 125 airplanes in its fleet.

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Sakshi Viswanathan

A professional of Economics and Psychology, Sakshi is also a blockchain and crypto enthusiast. When she isn't learning more about the world of digital currencies, she likes to spend her time dancing, or trying her hand as an amateur baker!

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