Points partners with Bilt Rewards as exclusive travel exchange partner for first-ever loyalty program that lets you earn rewards on rent

Rhea-AI Summary

Bilt Rewards introduces a groundbreaking rewards program for renters, allowing them to earn points on their rent payments. This partnership with Points enables renters to convert their points into travel rewards with major airlines and hotels, enhancing the utility of their rental payments. The program targets the $500 billion rental market, addressing the significant financial burden of rent, which is often the largest monthly expense for many Americans. Renters can now effortlessly earn rewards and pursue dream vacations by simply paying their rent.

Positive

• Introduction of a unique rewards program allowing renters to earn points on rent payments.
• Partnership with Points enables point conversion into travel rewards with major airlines and hotels.
• Targets the $500 billion rental market, providing renters with added financial benefits.

Negative

• None.

Bilt Rewards points earned on rental payments can be converted into travel rewards with major airlines and hotel chains enabled by Points’ Exchange service

TORONTO, June 22, 2021 (GLOBE NEWSWIRE) -- Paying your rent could now help you save on your next vacation, thanks to a new partnership between the innovative loyalty program for renters, Bilt Rewards, and the global leader in loyalty commerce, Points (TSX:PTS) (Nasdaq:PCOM).

Unlike other financial transactions such as retail purchases and credit card spend, rent is typically an outlay that consumers cannot accrue any rewards on - despite it often being their biggest financial commitment each month. With Bilt, renters have a way to start earning on this monthly expenditure and use their points towards a wide range of products and services.

One of the key ways that Bilt Rewards customers can redeem points is by using their points for future travel bookings. Members can simply link their Bilt Rewards loyalty account to that of their preferred airline or hotel partner. Travel programs available will include American Airlines AAdvantage®, Air Canada Aeroplan, Emirates Skywards, Air France-KLM Flying Blue, Hawaiian Airlines HawaiianMiles, Virgin Points and World of Hyatt. Members can then seamlessly convert their Bilt Rewards points 1:1 into the miles or points of their program of choice.

Bilt Rewards marks the first-ever rewards program for the housing sector and the $500 billion/year rental market at-large. “Housing is the single largest expense for the vast majority of Americans,” says Bilt CEO and Founder Ankur Jain, “And until today, it has been the only major expense you couldn’t earn points through. Over a renter’s lifetime, that’s thousands upon thousands of dollars that they’ve never been able to earn something back on. With the launch of the new Bilt Rewards program, renters will now be able to travel and take their next dream vacation just by paying their rent.”

Rob MacLean, CEO of Points, also welcomed the news: “We are pleased to be partnering with Bilt Rewards and playing an integral role in this industry-first loyalty program. Our Exchange service provides loyalty programs the ability to add new partners into their reward suite quickly and easily; in turn, increasing currency utility and value for members. We look forward to extending our collaboration as we continue to enhance the Bilt Rewards program with the integration of additional travel loyalty partners.”

Points Exchange service gives brands access to nearly 60 of some of the most well known names in hospitality and travel. Most recently, Points enabled exchange integration between leading UAE financial institution, Mashreq, and Emirates Skywards (award-winning loyalty program of Emirates and flydubai).

For more information on how Points can help loyalty programs unlock their full potential, visit Points.com.

About Points International

Points, (TSX: PTS) (NASDAQ: PCOM) is a trusted partner to the world’s leading loyalty programs, leveraging its unique Loyalty Commerce Platform to build, power, and grow a network of ways members can get and use their favourite loyalty currency. Our platform combines insights, technology, and resources to make the movement of loyalty currency simpler and more intelligent for nearly 60 reward programs worldwide. Founded in 2000, Points is headquartered in Toronto with teams operating around the globe.

For more information, visit Points.com.

About Bilt Rewards

Bilt Rewards is the first-ever rewards program that allows renters to earn points on rent and builds a path towards homeownership. Through a June 2021 launch partnership with the nation’s largest real estate owners including AvalonBay Communities, Inc., Blackstone, Camden Property Trust, Cushman & Wakefield, Equity Residential, GID, The Moinian Group, The Related Companies, Starwood Capital Group and more, Bilt Rewards will enable renters in more than two million units across the country to earn points just by paying rent. Bilt Rewards boasts one of the highest value rewards programs on the market today, including a number of one-to-one point transfer partnerships for travel across over 100 major airlines and hotel partners; fitness classes at the country’s top boutique studios including SoulCycle, Rumble and Y7; limited-edition and exclusive collections of art and home decor through the Bilt Collection, and the ability to use points for rent credits or towards a future downpayment. Bilt has also partnered with Mastercard to create the Bilt Mastercard - the first and only credit card that can be used to pay rent with no fees. Bilt Rewards is a Kairos company. For more information, visit BiltRewards.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7900b87c-8161-49e7-9485-e6d937acc1b1

FAQ

What is the new rewards program introduced by Points and Bilt Rewards?

The new rewards program allows renters to earn points on their rent payments, which can be converted into travel rewards with major airlines and hotel chains.

When was the Bilt Rewards program launched?

The Bilt Rewards program was launched in June 2021.

What can renters do with the points earned through Bilt Rewards?

Renters can convert their points into travel rewards, including miles with airlines and points with hotel partners.

Which major airlines and hotels are available for rewards conversion?

Earned points can be converted into rewards with airlines like American Airlines, Air Canada, Emirates, and hotel chains like World of Hyatt.

What is the significance of the Bilt Rewards program for renters?

The program addresses the lack of rewards on rent, the largest monthly expense for many, allowing renters to earn benefits from their payments.