DBS and SIA tie-up across various digital platforms

Singapore

DBS Bank and Singapore Airlines (SIA) signed a framework agreement on Tuesday to enable a seamless banking and travel customer experience for travellers by enhancing digital capabilities across various platforms.

Under the Memorandum of Understanding (MoU), the two companies will introduce flight booking and merchandising capabilities on DBS's platforms, a DBS-SIA Rewards Programme on the airline's digital wallet KrisPay, and the expansion of payment options for SIA customers using PayNow, via application programming interface (API) technology.

In a joint statement, both partners said that the MoU is in line with SIA's move to enhance digital capabilities company-wide, and DBS's vision to make payments simple and hassle-free for customers through building integrated digital ecosystems.

As the first bank partner that SIA will connect via API for flight ticket sales and its retail store KrisShop, DBS customers can soon book their holidays on the DBS Travel Marketplace, which will allow one to purchase flights, book hotels and buy travel insurance on a single integrated platform.

The initiatives will be gradually rolled out this year, beginning with the DBS Travel Marketplace, with the full suite of updates to be made available by the end of 2019.

For the DBS-SIA Rewards Programme, KrisFlyer members can convert DBS points into KrisPay miles via the KrisPay app, which can subsequently be used for retail purchases at KrisPay partners.

Alternatively, the KrisPay miles can be converted into KrisFlyer miles within seven days of accrual. DBS is SIA's first conversion partner on KrisPay.

By including PayNow as a payment mode, SIA offers its passengers the option to pay for their flights from their bank accounts using PayNow, and issue tickets once the payment is done.

Shee Tse Koon, DBS Singapore country manager, said that Singaporeans are "among the most well-travelled in the world", with over 10.3 million overseas trips made in 2018 alone.

"Through this partnership, we would be able to elevate the consumer travel experience by offering extensive travel and retail options for travellers to choose from and customise their journeys right at the start," he said.

Mak Swee Wah, SIA executive vice-president for Commercial, said: "The partnership will provide great benefits to both our companies, given our shared aim to be a digital leader in our respective industries, with enhanced customer benefits through new flight booking, merchandising and reward programme ties."