Singapore Air’s world-first digital wallet goes live

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July 25, 2018
digital wallet KrisPay Singapore
Singapore Airline's new Krispay digital wallet is now live. Photo: Singapore Airlines

Singapore Airlines’ new KrisPay digital wallet for frequent flyers has launched with 18 merchants across the island state and the promise of more to come.

The airline is using blockchain to launch the world-first loyalty digital wallet that allows frequent flyers to buy products in everyday setting at any time using KrisPay miles.

It allows members to use as little as 15 Krispay miles — or about 10 Singaporean cents (7 US cents) — to pay for purchases at partner merchants.

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.

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The 18 merchants helping to launch the product span categories ranging from beauty services, food and beverage, petrol and retail. Some are offering discounts during the launch the period.

The Krispay App is available on both the Apple on Google platforms and the airline says more merchants will be added progressively to the platform.

It says members can expect frequent in-app promotions and more app features in the coming months.

The digital wallet is a clever way to get frequent flyer members to use their points.

“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,” Singapore Airlines chief executive Goh Choon Phong said in the announcement.

The Singaporean carrier developed the technology behind Krispay in conjunction with KPMG Digital Village and Microsoft.

It uses a privately owned blockchain involving only merchants and partners.

Blockchain was invented as the technology behind bitcoin but it is now being linked to potential applications ranging from copyright protection to voting and airport security.

Banks are also looking at the technology in a variety of applications such as clearing and settlement, payments and customer verification.

Singapore is investing to significantly enhance its technological prowess as part of a Digital Innovation Blueprint that aims to make it the world’s leading digital airline.