NEW YORK, Feb. 17, 2025 /PRNewswire/ -- Spade, the fastest and most accurate provider of real-time merchant intelligence for the card ecosystem, today announced a partnership with Bilt, the pioneering loyalty program for home and neighborhood, to help enhance Bilt's reward offerings and user experience with enriched transaction data.
"Bilt's rewards ecosystem is one of the most impressive and innovative undertakings we've seen in the card world to date, so we couldn't be prouder to partner with them," said Tess Bloch, co-founder of Spade. "We look forward to supporting Bilt's revolutionary and first-of-its-kind rewards program, and enabling them to deliver an even more efficient and transparent member experience across a variety of categories including fitness, entertainment, and retail locations."
Spade will help provide granular merchant details to enhance Bilt's member app and web experiences and support Bilt's rewards ecosystem. Given that ISO standards only allow for limited information to be passed through card rails, much of the helpful information about a member's transaction is removed. This means that information that is mission-critical to Bilt—including full merchant name, accurate category, or exact geolocation—wasn't available to Bilt members previously, until today.
Spade's merchant intelligence platform leverages a proprietary, ground-truth database covering nearly 100% of card-accepting merchants in the United States. In under 50 milliseconds, Spade links each card transaction to a real merchant identity, providing specific merchant, category, and location data.
Bilt will leverage Spade's technology to create easy-to-read purchase and point summaries for Bilt Members, and to enhance their reward offering by more effectively attributing neighborhood and category-based spend.
"The Bilt Neighborhood Rewards program is built around a simple insight—that 80% of spending outside of housing happens within 15 miles of one's home. 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," said Brandt Smallwood, Chief Strategy Officer at Bilt. "We're excited to be working with the Spade team to ensure our members benefit from the speed, accuracy, and detail of the data Spade provides."
As Bilt continues its enormous growth, Spade will be key to powering the categorization and rewards attribution for Bilt's payments and new initiatives.
About Spade
Spade provides real-time merchant intelligence for the card ecosystem. Spade leverages its ground truth database to link any card transaction to a real merchant identity – providing granular merchant, category, and geolocation information. Spade leads the market in terms of merchant coverage, geolocation matching accuracy, and speed of transaction enrichment. Customers such as Mercury, Stripe, Bilt, Corpay, and Unit trust Spade's data to authorize more transactions, prevent fraud, and build more innovative features.
About Bilt
Bilt is the pioneering loyalty program for where you live that allows renters to earn rewards on rent and benefits in their neighborhood while building a path toward homeownership. Through the Bilt Rewards Alliance, a network of more than 4.5 million homes across the country that rewards residents on each residential payment, Bilt Members can earn points just by paying rent. Launched in June 2021, Bilt boasts one of the highest value rewards programs on the market today—including one-to-one point transfers for travel across over 100 major airlines and hotel partners; fitness classes at the country's top boutique studios; limited-edition and exclusive collections of art and home decor through the Bilt Home Collection; and the ability to use Bilt Points for rent credits or toward a future down payment on a home. For more information, visit www.bilt.com/.
SOURCE Spade
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