Venmo, the money movement app redefining social payments for the next generation, announced a partnership with Bilt, the nation’s housing and neighborhood commerce platform, to expand how people use Venmo for everyday payments. The collab brings rent payments, mortgage repayments, and neighborhood commerce into the Venmo experience, marking a key step in Venmo’s evolution from a P2P payments app to a comprehensive commerce platform.
From early next year, Bilt Members will have a way to not only pay their rent and mortgage, but also “to shop at Bilt neighborhood merchants, adding Venmo to Bilt’s existing payment options of ACH, debit, and any linked credit card.”
Members will be able to make housing payments in the Bilt app, or within Venmo using their Venmo balance or “linked payment methods, and benefit from the same during everyday activities like dining, shopping, and fitness classes.”
The partnership brings together Bilt’s rent and rewards network with Venmo’s trusted and social payment experience, giving renters and homeowners a better way to pay every month. Bilt Members can complete monthly payments in just a few taps, “split costs with roommates, and earn Bilt Points that can be redeemed for travel, fitness, home decor, and more.”
With Bilt Members across the nation, representing one in four residential buildings, and the introduction of mortgage rewards coming isoon, Venmo and Bilt are focused on making life easier.
The collab extends Venmo’s payment capabilities to Bilt’s network of merchants. Restaurants, retailers, gyms, pharmacies, other businesses in the Bilt ecosystem will be able to accept Venmo.
Together with Bilt, Venmo is delivering convenience for renters while giving property managers, merchants, and partners a way to get paid. This collab marks one of the initial steps in Venmo’s in-app commerce strategy. By connecting people and merchants in various ways, Venmo says that it is shaping the future of how the next generation “spends, shares, and discovers together.”
This partnership will officially begin early next yaer.