Venmo to roll out rent, mortgage, retail payment feature in 'first-of-its-kind' partnership

Core Insights - Venmo is expanding its services beyond peer-to-peer payments by allowing users to make rent, mortgage, and retail payments starting in 2026 through a partnership with Bilt Rewards [1][5][11] Group 1: Partnership Details - The collaboration with Bilt, which has over 5 million members and represents one in four residential buildings in the U.S., will enable Bilt members to make payments directly through Venmo using their balance or linked payment methods [2][8] - Venmo will be integrated into Bilt's existing payment options, enhancing the platform's utility for everyday transactions [2][5] Group 2: User Benefits - The partnership will provide access to Bilt's network of over 45,000 merchants, allowing nearly 100 million Venmo users to make payments at local businesses within the Bilt ecosystem [8] - Bilt members will also earn Bilt Points for their transactions, which can be redeemed for various rewards such as travel and home décor [9] Group 3: Strategic Goals - This initiative marks a significant evolution for Venmo, transitioning from a peer-to-peer payment app to a comprehensive everyday commerce platform [5][11] - PayPal aims to make managing large recurring expenses, like rent, more rewarding for users, with early feedback indicating positive reception [11]