Singapore Airlines Launches Its Blockchain-Based Loyalty Program

By Ravindra Chagetha

Singapore Airlines has announced the launch of its official loyalty program. Meant for frequent fliers who avail of their services, this newly launched loyalty program is based on blockchain technology.

The airlines company is taking the aid of a digital wallet called KrisPay that was developed in collaboration with Microsoft and KPMG to allow customers to convert miles travelled into units of payment they can redeem. The reward points can be redeemed and used with companies, stores and merchants of Singapore that the airlines company has a tie-up with. This program is called KrisFlyer and it will be making use of a blockchain to maintain loyalty wallets of customers eligible for the program. Interested customers can sign up for the program and download an application for their mobile phones to track their earnings. They will use the mobile app to convert their traveled miles to KrisPay points or units and then make payments with those by scanning a QR code when they want to shop at a partner store or avail of a service from a merchant, Singapore Airlines has a tie-up with.

Singapore Airlines has so far  announced having partnered with 18 merchants in Singapore. These include salons and beauty parlours, restaurants and cafés, gas stations as well as some retail stores. A major retail outlet that is on board is the large Singaporean brand Lego. Soon they are expected to sign on more partner companies and retailers for point redemption. In addition they are also planning to offer discounts for early subscribers.

February 2018 had seen the first announcement of a new blockchain-based service by the airline. Right before their February announcement, they had successfully conducted a PoC or Proof-of-Concept trial along with Microsoft and KPMG.

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. Last week itself we saw the Singapore Airlines win the World Airline Awards held in Skytrax, London, outshining last year’s winner Qatar Airlines.