Bilt Pays $300 Million for Sports Loyalty Platform Lava

This acquisition signals a major shift in how consumer loyalty and payment platforms are integrating with local lifestyles. Bilt, known for its credit card that rewards rent payments, is spending $300 million to buy Lava, a platform used by over 50 professional sports teams. For retailers and operators, this means the 'neighborhood commerce' ecosystem is getting much larger. Bilt is moving beyond housing costs to capture discretionary spending in stadiums and entertainment venues. If you are a merchant in a city with major sports teams, this matters because these platforms are converging. Bilt already allows users to redeem points for local dining and rent. By adding sports franchises, they are creating a closed-loop system where consumers are incentivized to spend within a specific network of partners. This deal suggests that payment providers are no longer just focused on the transaction; they are competing to own the entire customer journey from the living room to the arena. You should watch for Bilt to offer new 'neighborhood' perks that could drive foot traffic to merchants located near these sports hubs. As these platforms consolidate, your choice of payment acceptance may soon depend on which loyalty ecosystem your customers are most invested in.

Source: PYMNTS

← Return to the library· Submit a correction