Singapore Airlines' Blockchain-Based Loyalty Program Takes Off

Singapore Airlines has officially launched its blockchain-based loyalty program for frequent customers.

KrisPay, a digital wallet developed in partnership with KPMG and Microsoft, allows Singapore Airlines customers to turn travel miles into units of payment, which can be used with partner merchants in Singapore. Most notably, however, the newly dubbed KrisFlyer program utilizes a blockchain to underpin its clients' loyalty wallets, according to a press release.

Customers who sign up with the program will be able to download an app to a mobile phone. These customers will then be able to convert their miles into KrisPay units and pay with them by scanning a QR code at partner merchants.

The company announced 18 partners in Singapore, including eateries, beauty parlors, gas stations and some retailers,including the nation's LEGO store outlets. More partners are expected to sign up soon, and the airline says it will offer discounts for early users.

The airline first announced its new blockchain service in February, after conducting a successful proof-of-concept trial with KPMG and Microsoft. The announcement comes a week after the airline was dubbed it was announced the best airline in the world, winning the World Airline Awards by Skytrax in London. This year, SIA outpaced Qatar Airlines, the 2017 winner.

Singapore Airlines A350 image via Fasttailwind / Shutterstock