Spade, the fastest and most accurate provider of real-time merchant intelligence for the card ecosystem, 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.
Spade’s granular merchant details will enhance Bilt’s member app and web experiences and support its rewards ecosystem.
“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.”
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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.
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