Flip through the latest issue of Gulf Weekly.
A NEW digital wallet could be landing at an airport near you following the fruitful trail between a leading airline and FinTech partners.
Following a successful proof-of-concept exercise completed by Singapore Airlines (SIA), KPMG Digital Village and Microsoft in February, 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 attract new partners on board and reconcile payments through the use of new technology.
With KrisPay, KrisFlyer members can convert KrisFlyer miles into KrisPay miles instantly for their everyday spending at partner merchants’ across the island.
Members can choose to use as little or as much of their air miles as they wish 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 programme.”
