Singapore Airlines has launched KrisPay, a digital blockchain wallet that lets members of KrisFlyer, the carrier’s frequent flyer program, convert their air miles into digital currency.
Members can use as little as 15 KrisPay miles (equivalent to US$0.07) to pay for items at the airline’s 18 partner merchants in the city-state, including gas stations, beauty product retailers, as well as food and beverage outlets.
The company said in February that it would initially be teaming up with retailers in the Singapore market.
KrisPay’s blockchain is owned privately by Singapore Airlines and only partners who belong in the network can participate in any transactions made on the blockchain.
The launch of KrisPay follows a successful proof-of-concept exercise completed by the carrier, in collaboration with auditing firm KPMG and tech titan Microsoft. According to KPMG, the proof-of-concept involved testing the blockchain product and doing trial runs with merchants.
Other airlines have also experimented with adding blockchain or cryptocurrency to their businesses.
US-based Surf Air unveiled plans last year to accept cryptocurrencies for ticket payments. German airline group Lufthansa and Air New Zealand are both working on projects with Swiss startup Winding Tree to build blockchain-based travel apps.
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