KPMG has announced it has worked with Microsoft and Singapore Airlines (SIA) to develop the first digital wallet airline loyalty program based on blockchain technology, the company said.
SIA announced the launch of the new KrisPay digital wallet following a successful proof-of-concept development in February 2018.
With KrisPay, SIA´s KrisFlyer members can instantly convert KrisFlyer miles into KrisPay tokens that can be spent with participating merchants. The digital wallet not only makes it easier for SIA customers to use miles in their KrisFlyer account, it allows SIA to onboard new partners and reconcile payments using blockchain technology.
KPMG International is a global network of professional services firms providing Audit, Tax and Advisory services. The company operates in 154 countries and territories and has 200,000 people working in member firms around the world.
KPMG Singapore Digital Village provides corporates with a ready platform to co-innovate with solution providers and government bodies and turn innovative ideas into robust, practical and scalable solutions.