URGENT UPDATE: PayPal has just announced a groundbreaking partnership between its subsidiary Venmo and Bilt Rewards, allowing millions of Americans to pay their rent and mortgages directly through Venmo starting in early 2026. This innovative move aims to digitize housing payments and is expected to transform how users manage their largest monthly expense.
The collaboration with Bilt, a rapidly growing housing and rewards network used by over 5 million members across one in four residential buildings nationwide, marks Venmo’s most significant expansion since its inception. Users will now be able to make housing payments seamlessly while earning Bilt Points, which can be redeemed for travel, home goods, and even down payments.
Diego Scotti, PayPal’s General Manager of Consumer, stated,
“Our partnership with Bilt marks a pivotal first step in our journey to bring everyday commerce directly into the Venmo experience.”
He emphasized that millions already utilize Venmo to split rent with roommates and pay landlords, and this partnership enhances that experience.
The new feature will enable users to process rent or mortgage payments from either the Bilt or Venmo app, using their Venmo balance, linked bank accounts, or cards. Additionally, users can split rent with roommates or shop at over 45,000 local businesses within the Bilt network, earning rewards along the way.
Ankur Jain, Bilt’s Founder and CEO, remarked,
“Venmo is one of the most relevant and trusted payment experiences in America, so bringing it into the Bilt ecosystem is a game-changer for our members.”
He highlighted the combination of Venmo’s extensive reach and Bilt’s rewarding network as a way to provide renters with greater flexibility and value every month.
The announcement was made at the Money20/20 conference in Las Vegas, coinciding with PayPal’s strategy to integrate everyday commerce directly into its apps. This partnership not only broadens Venmo’s footprint in the housing sector but also taps into a powerful loyalty system, enhancing user experience significantly.
Moreover, Bilt already reports rent payments to major credit bureaus at no extra cost, allowing users to build credit while accumulating points. This feature adds an additional layer of appeal for renters looking to enhance their financial standing.
In a related development, PayPal unveiled another partnership with OpenAI, making PayPal the first digital wallet embedded inside ChatGPT. Users will soon be able to pay for products using PayPal’s “Instant Checkout” system within the AI platform, transforming ChatGPT into an AI shopping hub for millions of verified PayPal merchants.
PayPal CEO Alex Chriss told CNBC, “This integration will allow users to click the ‘Buy with PayPal’ button on ChatGPT and have a safe and secure checkout experience.” He assured that this dual strategy will benefit both buyers and sellers through robust fraud protection, package tracking, and dispute resolution services.
The announcements spurred a remarkable surge in PayPal shares, which skyrocketed over 14% on Tuesday, marking the stock’s most significant one-day jump in years. Investors are showing strong confidence in PayPal’s strategy to embed payments in both the real world through Venmo and the digital future through OpenAI.
As these developments unfold, keep an eye on how this partnership impacts the housing payment landscape and consumer behavior in the coming months.
