Singapore Airlines' Krisflyer launches blockchain-based digital wallet

SINGAPORE: Singapore Airlines' (SIA) Krisflyer frequent flyer miles will be "digitalised" and can be used for purchases at retail outlets in the near future, the airline announced on Monday (Feb 5).

A new Krisflyer "digital wallet app" employing "world-first blockchain-based" technology is expected to be rolled out in the next six months, SIA said in a media release.

"It will allow the extensive KrisFlyer membership base to use 'digital KrisFlyer miles' for point-of-sale transactions at participating retail merchants," SIA said.

This will be introduced in the Singapore market first after a proof-of-concept exercise with KPMG Digital Village and Microsoft, the airline added.

"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," said Singapore Airlines CEO Goh Choon Phong.

"It is in line with our recently unveiled Digital Innovation Blueprint, under which we aim to be the world's leading digital airline."