Singapore Airlines (SIA) has announced that its KrisFlyer frequent-flyer programme is going to launch a blockchain-based airline loyalty digital wallet capability.
SIA is launching a first-of-its-kind lifestyle digital wallet app for an airline loyalty programme, which uses an SIA-owned private blockchain involving only merchants and partners. It will help unlock the value of KrisFlyer miles to enable everyday spending at retail partners.
“It [The app] will allow the extensive KrisFlyer membership base to use ‘digital KrisFlyer miles’ for point-of-sale transactions at participating retail merchants,” SIA explained.
The app is expected to be rolled out in about six months, SIA said in a media release. It follows a successful proof-of-concept conducted in collaboration with KPMG Digital Village and Microsoft.
“This groundbreaking development in which we will be using blockchain technology to ‘digitalise’ KrisFlyer miles is a demonstration of the investment we are making to significantly enhance the digital side of our business for the benefit of our customers. It is in line with our recently unveiled Digital Innovation Blueprint, under which we aim to be the world’s leading digital airline,” said Singapore Airlines CEO Goh Choon Phong.
Starting with the Singapore market, KrisFlyer will begin signing up retail merchant partners.
