Miles-based blockchain digital wallet launches in Singapore

Enterprise Innovation editors

Following a successful proof-of-concept exercise completed by Singapore Airlines (SIA), KPMG Digital Village and Microsoft in February 2018, the world’s first blockchain-based airline loyalty digital wallet has been launched in Singapore.

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.

With KrisPay, KrisFlyer members can convert KrisFlyer miles into KrisPay miles instantly for their everyday spending at partner merchants islandwide. Members can choose to use 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.

“We are delighted that SIA chose KPMG Digital Village as their innovation provider. This work is an example of how KPMG Digital Village plays a role in driving innovation for corporates,” KPMG Singapore head of Digital Village Jan Reinmueller said.

“By building on our track record in business model innovation and digital transformation, KPMG Digital Village was selected to help SIA with their customer loyalty program.”

First published in Enterprise Innovation

 

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