Singapore Airlines’ KrisFlyer frequent flyer programme is to launch a blockchain-based airline loyalty digital wallet, which will enable frequent flyers to spend their points with a number of retail partners.
A new KrisFlyer digital wallet app is expected to be rolled out in about six months, according to the carrier. It will allow the KrisFlyer membership base to use “digital KrisFlyer miles” for point-of-sale transactions at participating retail merchants.
Following a successful proof-of-concept exercise carried out in collaboration with KPMG Digital Village and Microsoft, KrisFlyer will now be signing up retail merchant partners, initially in the Singapore market.
The pioneering lifestyle digital wallet app will be enabled through blockchain technology, using an SIA-owned private blockchain involving only merchants and partners.
Singapore Airlines CEO Goh Choon Phong said: “Innovation has been a key contributor to the success of Singapore Airlines since day 1 and we are very excited about this world-first initiative, which will bring even more benefits to members of our KrisFlyer programme.
“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.”
Singapore Airlines becomes the latest airline to invest in blockchain, following in the footsteps of the like of Lufthansa and Air New Zealand.