Bilt Partners with Venmo to Streamline Housing Payments

Venmo, a popular payments application, has announced a significant partnership with housing and commerce platform Bilt. This collaboration, revealed on October 27, 2023, will allow Bilt members to make rent and mortgage payments through Venmo, enhancing the app’s functionality and positioning it as a more comprehensive commerce platform.

Starting in early 2024, users of Bilt will have the option to complete housing payments directly within the Bilt app or through Venmo. They can utilize their Venmo balance, debit cards, or any linked credit card for transactions, in addition to existing payment methods such as ACH. This partnership aims to make financial interactions related to housing more seamless for millions of users.

Diego Scotti, general manager of consumer at Venmo’s parent company, PayPal, emphasized the importance of this evolution. “Millions of people already use Venmo to split rent with roommates and pay their landlords. Now we’re making that experience even more seamless and rewarding,” he stated. This collaboration reflects the companies’ shared commitment to innovation and improving customer experience.

Bilt’s founder and CEO, Ankur Jain, noted the advantages of combining Venmo’s extensive reach and social connectivity with Bilt’s network of rewarding rent and neighborhood commerce. “We’re giving millions of renters more flexibility with how they pay and more value every single month,” Jain added.

This partnership follows Bilt’s recent collaboration with United Wholesale Mortgage (UWM), the largest mortgage lender in the United States. Through this arrangement, Bilt members will be able to earn rewards on their mortgage payments, marking a first for the industry. Jain explained that by working with UWM, Bilt aims to connect members with local brokers who can assist them in navigating the home-buying process effectively.

In addition to these developments, Bilt has expanded its loyalty program for renters, now offering home delivery services in partnership with GoPuff. Bilt members can order everyday essentials from local merchants using the company’s app or website. They can pay through a linked card or redeem Bilt Points, enjoying quick delivery of goods such as household items.

This strategic alliance between Bilt and Venmo not only enhances payment options for renters and homeowners but also integrates local commerce, thereby fostering community engagement and convenience. As the landscape of housing payments continues to evolve, this partnership signals a growing trend towards digital solutions that prioritize user experience and accessibility.