KrisPay, another XXX-pay, another wallet. When I read the news about Singapore Airlines venturing into blockchain technology for the digitalisation of their KrisFlyer miles with KrisPay. I went, where is the link?!
Editor’s Note: This post is not sponsored (we actually don’t do sponsored post), thus all opinions are our own!
Firstly, What is KrisPay?
Developed together with KPMG Digital Village and Microsoft, KrisPay aims to integrate KrisFlyer miles into our daily lives by allowing you to convert your KrisFlyer miles into “KrisPay miles” to purchase things from participating merchants.
Basically, another wallet to add on to our already saturated wallet-market.
Extracted from their website,
KrisFlyer miles and KrisPay miles although both miles mean different things.
Topping Up KrisPay miles – Conversion Rates
Screenshot of KrisPay App on iOS
| KrisPay | Conversion |
|---|---|
| 1 KrisPay mile | 1 KrisFlyer mile |
| 150 KrisPay mile | S$1 |
| 15,000 KrisPay mile | S$100 |
Where Can 15,000 KrisFlyer Miles Take You?
You would need 15,000 KrisFlyer miles to have S$100 worth of KrisPay miles to fuel your petrol at Esso, for example.
With a simple use of the miles calculator, I have found a few locations where 15K miles can get you. Remember, 1 KrisFlyer mile = 1 KrisPay mile!
- Kuala Lumpur
- Bali
- Jakarta
- Surabaya
With that said, would you rather spend that 15,000 miles on S$100 worth of petrol at Esso or a trip to Bali? I hope you did not pick the former.
KrisFlyer miles vs KrisPay miles Validity
If that hasn’t convinced you not exchange your KrisFlyer miles to KrisPay miles, maybe this would.
| KrisFlyer miles | KrisPay miles | |
|---|---|---|
| Validity | 3 years | 6 months |
| Extendable? | Yes, with a fee | No |
KrisPay miles expire after 6 months and there is no way you can extend the expiry contrary to KrisFlyer miles where you are able to extend it with a fee.
You are unable to convert your KrisPay miles back to KrisFlyer miles either.
When Should You Use KrisPay?
If you have excess KrisFlyer miles expiring soon where you are unable to redeem a flight with it for whatever reason.
Try to avoid it, if avoidable. If not, I guess KrisPay is an option to not let your miles go to waste!
List of Participating KrisPay Merchants
They are progressively adding merchants but right now, they only have a total of 18 participating merchants where you are able to use your KrisPay miles to pay for your purchase by scanning your QR code.
| Categories | Participating Merchants | KrisPay Exclusive* |
|---|---|---|
| Food | Cedele | 1) Enjoy a Cedele cake set at $8.60 (U.P $9.50). 2) Enjoy 10% off whole cakes |
| Gongcha | - | |
| Greenwood Fish Market | - | |
| PizzaExpress | Enjoy a free starter with any main course (pastas, classic pizzas, romana pizzas and large salads). |
|
| Toss & Turn | - | |
| TWG Tea | - | |
| Workspace Espresso Bar | - | |
| Xiao Ban Soya Singapore | Buy 2 bowls of original soya beancurd and get the third bowl of original beancurd free. | |
| Lifestyle | Browhaus | Enjoy $10 off single Brow Shaping service (U.P. $25). Choose from 3: Classic Threading, Modern Tweezing or Thread & Tweeze. |
| QiMantra | 75 mins Custom Qi Facial at $68 (U.P. $138) | |
| Spa Esprit | 90 mins Back to Balance Massage at $100 (U.P. $235.40) | |
| Strip | Single session PowerPac – Half Leg (Bottom) Hair Removal @ $88 (U.P. $642) | |
| We Need A Hero | Barber Haircut at $45 (U.P. $60) | |
| Electronics | Challenger | - |
| M1 | - | |
| Others | Esso | Free travel tissue pack with purchase of fuel using KrisPay while stock last. |
| LEGO Certified Store (Bricks World) | Bring your LEGO®• Creations to Life with 10% off a LEGO® City/Friends set. | |
| Shangri-La Hotel, Singapore | - |
*Do check with the participating merchants for their respective terms and conditions – not ALL of their outlets accept KrisPay!
Out of the 18 stores, I personally only patronise 1 of them – Gongcha.
I hope that is enough to say how appealing this is to me. That is unless I have KrisFlyer miles expiring soon which is insufficient to redeem a flight. So yes, it is just another wallet.
Oh well, that’s it for today if you have any questions, feel free to ask Our Community! Do also check out our blog for more information while embarking on your personal finance journey!
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