#United States #New York #Spade #Merchant Intelligence #Bilt

Enhancing the Bilt Member Experience with Spade

In a groundbreaking collaboration, Spade, renowned for its speed and accuracy in providing real-time merchant intelligence, has partnered with Bilt to transform the way Bilt members engage with their loyalty rewards. This strategic alliance aims to enrich the offerings of Bilt, a pioneering loyalty program dedicated to enhancing experiences for renters and local consumers.

The Objective Behind the Partnership

Bilt has established itself as a game-changer in the financial landscape by allowing users to earn rewards on rent and neighborhood spending. With Spade’s advanced technology, Bilt intends to elevate its user experience by offering clear and comprehensive insights into transactions. This initiative is designed to not only improve the summary of purchases and points earned but also to deliver a more tailored and intricate rewards offering.

Tess Bloch, co-founder of Spade, expressed enthusiasm about the partnership, stating, "Bilt's rewards ecosystem is one of the most impressive and innovative undertakings we've seen in the card world to date. We are excited to support Bilt's revolutionary rewards program, enabling them to create an effective and transparent member experience across diverse sectors, including fitness, entertainment, and retail."

The Technology Behind the Change

One of the key integration points for this partnership is Spade's capacity to provide granular merchant information, which significantly enriches Bilt's member app and website functionalities. The collaboration tackles a critical limitation of existing card processing infrastructures, where substantial information about transactions—such as accurate merchant names, specific categories, and exact geolocations—was unavailable to members due to ISO standards limiting data transfer.

With Spade's sophisticated merchant intelligence platform, which utilizes a proprietary database featuring nearly universal coverage of card-accepting merchants in the United States, Bilt can now access invaluable transaction insights in less than 50 milliseconds. This capability links card transactions to real merchant identities, facilitating more comprehensive member engagement through enhanced data.

Bilt's Innovative Rewards Program

Bilt’s Neighborhood Rewards program is based on the insightful observation that a significant portion of consumer spending occurs within close proximity to their homes. Leveraging Spade’s detailed merchant insights, Bilt plans to introduce innovative new rewards that capitalize on the more than $5 billion in neighborhood spending facilitated by its platform. Brandt Smallwood, Chief Strategy Officer at Bilt, emphasized the importance of this partnership, stating, "Spade's granular merchant data allows us to deliver new and innovative rewards on the more than $5 billion in neighborhood spend happening on our platform."

As Bilt continues its trajectory of rapid growth, Spade's capabilities will be crucial in enhancing the categorization and rewards attribution associated with Bilt's payment initiatives and new projects.

About Spade and Bilt

Spade operates at the forefront of the fintech industry, providing essential real-time merchant intelligence. By harnessing its extensive database, Spade empowers clients like Mercury, Stripe, and Unit to maximize transaction efficiency, mitigate fraud risks, and expand feature sets.

On the other hand, Bilt has emerged as the premier loyalty program focused on enhancing the renter experience, allowing members to earn points on everyday transactions—including rent—while providing a pathway to homeownership. Bilt's offerings encompass a variety of options for earning points, ranging from travel arrangements to exclusive local experiences.

This partnership represents a significant leap forward in the intersection of fintech and consumer loyalty, promising to reshape how members interact with their spending and rewards.

For additional information, explore Bilt’s transformative initiatives at www.bilt.com.