Rewards Platform Bilt Announces 'Next Evolution' for American Consumers, Small Businesses - Fox Business

Rewards Platform Bilt Expands Into Neighborhood Commerce

Rewards platform Bilt announced its transformed Neighborhood OS on Tuesday, expanding its network from housing payments into local commerce and artificial intelligence tools for small businesses, Fox Business reported.

The Bottom Line:

Bilt launched Neighborhood OS on Tuesday to connect existing business systems for reservations, payments, and loyalty programs.
The company expects to process more than $100 billion in housing payments this year across its network of 8.2 million members.
Bilt estimates that roughly $6.6 trillion in annual U.S. retail and food-services spending occurs in person.

Connecting Neighborhood Merchants

According to Bilt, Neighborhood OS integrates with current business infrastructure for reservations, payment processing, client management, and loyalty schemes, enabling merchants to target local patrons, tailor promotions, and monitor expenditures.

For shoppers, this growth could result in accumulating rewards and getting customized deals at a wider variety of restaurants, stores, and other local businesses near their residences. For merchants, it could mean reaching new customers without replacing their existing technology, Fox Business reported.

Bilt characterized this launch as the latest progression of its enterprise, broadening the rewards ecosystem originally centered on rent payments into a comprehensive network that links consumers, local merchants, and larger entities.

“The last tech revolution transformed how businesses sell online, but it largely left behind the businesses that make our neighborhoods special,” Bilt founder and CEO Ankur Jain said in a statement. Established in 2021, Bilt currently has a presence in approximately one out of every four apartment complexes in the U.S. and anticipates handling over $100 billion in residential payments throughout this year.

Software Integration and Strategic Partnerships

The expansion features two Bilt for Business products: Neighborhood OS, which utilizes artificial intelligence to assist merchants in acquiring customers, fostering loyalty, and managing operational tasks, and the Bilt Membership Platform, which enables organizations in sectors such as sports, travel, hospitality, corporate workplaces, and financial services to develop branded membership initiatives or extend current rewards to local areas, Fox Business reported.

Bilt neighborhood os product — Photo: CNBC

Bilt lists initial partners that include Altamarea Group, AM Parking, Lowe’s, and Thumbtack. Bilt partners with 50,000 merchants so residents can use rewards at their stores, according to CNBC. Businesses that already have rewards systems do not need to replace them.

In an effort to widen its presence, Bilt is collaborating with commerce and payment firms including Verifone, Clover from Fiserv, Shift4, OpenTable, and Grubhub.

These collaborations may eventually provide Neighborhood OS access to millions of businesses, with various features and integrations scheduled to be released in stages starting in 2027, as reported by Fox Business.

Bilt and Hyatt are also examining how World of Hyatt members could be rewarded through neighborhood experiences with Bilt Neighborhood OS. Furthermore, Bilt stated that it will collaborate with Meta beginning in 2027 to offer educational resources and business tools for small-business owners.

Professional Sports and Local Communities

Bilt is venturing into the professional sports sector, with the Phoenix Suns, Phoenix Mercury, Houston Rockets, Houston Texans, Houston Comets, and Sacramento Kings planning branded fan loyalty experiences that could reward customers inside and outside stadiums, with phased launches beginning in 2027, Fox Business reported. This initiative follows Bilt’s $300 million purchase of LAVA, a loyalty technology firm, whose platform supports programs for 56 professional sports teams, according to the company.

The platform is also giving $100,000 to the community development organization Local Initiatives Support Corporation. “Our partnership with Bilt will test new ways to connect financial coaching and resources with people’s housing goals, including pathways to homeownership, with the goal of reaching more individuals, families, and communities across the country,” Valerie White, head of National Housing Strategic Initiatives at Local Initiatives Support Corporation, told Fox Business.

Bilt commissioned an inaugural State of the Neighborhood study conducted by 451 Research by S&P Global, which surveyed 6,591 U.S. adults. According to the findings, two-thirds of respondents spend at least 80% of their money locally, while the typical shopper resides within a 15-mile radius of the businesses they frequent.

Disclaimer: The information provided in this article is for educational and market analysis purposes only and does not constitute financial, investment, or legal advice. Always consult with a certified financial professional before making investment decisions.

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