Singapore Airlines has launched a new miles based digital wallet called ‘KrisPay’. The idea behind the wallet is to allow members the ability to use miles to pay for every purchases at partner merchants in Singapore. They have launched with 18 partners, to pay with purchases members need to scan the KrisPay QR code at the merchant and then key in the amount they wish to pay using miles. KrisPay will have their own miles and KrisFlyer miles can be turned into these miles (once they become KrisPay miles they have a validity of 6 months).
The announcement mentions a valuation of 15 KrisPay miles = S$0.10 (~0.073USD). That works out to be a valuation of under 0.5¢ per mile (~0.489¢). Terrible value. File this under useless things until they start offering promotions and even then it’s unlikely to be useful for most unless you regularly visit Singapore.
Hat tip to pfdpfd
