Singapore Airlines has announced the launch of its digital wallet KrisPay, which allows KrisFlyer members to transfer their KrisFlyer miles into KrisPay miles via a convenient top up system, which can then be used at selected merchants islandwide.
As per the official announcement, 15 KrisPay miles is equivalent to about S$0.10, which means that the value of each mile is 0.67 cents each, which represents very poor value, and definitely not the way you would want to use your hard earned miles. Indeed, as pointed out by the Milelion, this is by far the worst way to use your miles, considering that you can get a much higher valuation redeeming them for award flights in Business and First.
For now, KrisPay is accepted at 18 merchants, including Cedele, TWG Tea, Esso, Strip, and Challenger. You can now download the KrisPay app, transfer your KrisFlyer miles in (please don’t), and then use your KrisPay miles at these merchants by way of scanning the QR code on site.
The only reason that I can think of for you to use this, is when your miles are expiring tomorrow, you have wifi or data coverage to download the KrisPay app, and you happen to be at one of these selected merchants to use them. And for all these conditions to align, you must have somehow mismanaged the use of your hard earned miles.
So there you go, you’ve been warned.