The co-branded credit and debit card programs offer new ways to earn KrisFlyer miles.

Mastercard has announced a five-year partnership with Singapore Airlines (SIA) for SIA's upcoming card programs in Southeast Asia.

Mastercard will be the preferred partner for card programs in Cambodia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, the two companies announced in a press release.

The co-branded credit and debit card programs across Southeast Asia will offer a range of benefits, including earning KrisFlyer miles for everyday spends, accelerated mile accrual, and redemption opportunities that count towards KrisFlyer status upgrades.

The collaboration also includes the extension of Mastercard's Priceless platform to SIA's KrisFlyer members.

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The first product under the new partnership has already been unveiled in Thailand, with the UOB KrisFlyer World and UOB KrisFlyer World Elite Credit Cards. Travel benefits offered include complimentary limousines services to and from airports around the world and access to airport lounges.

The move comes as consumers are increasingly prioritising their travel spend on experiences over goods, noted Mastercard's Singapore Country Manager Deborah Heng, citing a study by the Mastercard Economic Institute.

"Mastercard's Priceless program aligns closely with the desires of SIA's international audiences, giving them the opportunity to indulge in unique and exclusive experiences and create unforgettable memories," Heng said.

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According to the Mastercard Economic Institute's Economic Outlook 2024, consumers across Southeast Asia will continue to allocate more spend to discretionary items over essentials this year, with travel as a priority.