KPMG, Singapore Airlines and Microsoft Partner for Blockchain Airline Loyalty Program

KPMG International announced its Singapore office worked with Singapore Airlines (SIA) and Microsoft to develop the carrier’s KrisPay digital wallet, the firstĀ airline loyalty programbased on blockchain technology. SIA began the new digital wallet following a successful proof-of-concept development in Feb-2018.

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Major US Airlines Grow Loyalty Program Revenue

As airlines seek income beyond fares, carriers are turning to credit card offers to broaden their revenue streams. In the second quarter, major carriers in the U.S. earned more from loyalty and credit card programs than they did in the same period the prior year, The Wall Street Journal reported.

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Airline Industry and Deutsche Bank to Roll Out Electronic Payment System

The airline industry, in conjunction with Deutsche Bank, is trying to challenge credit card companies with a new digital payment system to purchase plane tickets. According to a report in the Financial Times, the real-time electronic payment system is being designed to save the airline carriers billions of euros in transaction fees.

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