Bilt Launch Credit Card To Use On Rent Payments Mastercard

Mastercard, Bilt Launch Credit Card To Use On Rent Payments

June 22, 2021 at 06:51PM

Mastercard has unveiled a new credit card it says will help renters make down payments on a future home.

The Bilt Mastercard — created in partnership with real estate startup Bilt Technologies — can be used at any rental unit or apartment with no fees, letting customers earn points for things like travel, rent credits and down payments on a home.

“Housing is the single largest expense for most Americans, and rent is one of the only expenses that you couldn’t earn points on without fees,” Bilt Rewards CEO and Founder Ankur Jain said in a Tuesday (June 22) press release.

“Together with Mastercard, we have created a product that turns renting into a path forward for this generation, enabling them to earn points, build their credit and even chart a path towards homeownership. Not to mention it’s 2021, and renters shouldn’t have to pay rent with a check.”

Among the benefits of the card is a system that lets renters make card payments at buildings that don’t accept credit cards. Cardholders will pay through the Bilt app and a check will go to their landlord on their behalf.

Tenants who rent through the Bilt Rewards Alliance network, made up of real estate owners around the country, will be the first invited to use the new card, which was due to roll out to more than 2 million rental units beginning Tuesday.

It’s been a tough time for renters, with many losing their jobs as businesses folded or closed temporarily due to the COVID-19 pandemic. As PYMNTS reported earlier this year, Congress approved $25 billion in aid for renters in December 2020, but that money was held up due to fears about the threat of fraud, as well the fact that no system existed for dispensing large amounts of rental assistance.

Conservation International Introduce Wildlife Impact Card Program Mastercard

Mastercard, Conservation International Introduce Wildlife Impact Card Program

May 21, 2021 at 12:01PM

Mastercard and Conservation International have debuted the Wildlife Impact Card program, an initiative that lets individuals safeguard wildlife habitats, with the inclusion of those where a number of critically endangered species reside, according to a press release emailed to PYMNTS.

A dollar will be contributed to Conservation International to help safeguard and restore wildlife habitats for every card purchased, the release stated.

“As a company committed to fostering a sustainable future for all, we believe an important aspect of that is to protect critically endangered species and the habitats in which they live,” said Mastercard Chief Marketing and Communications Officer Raja Rajamannar in the release. “Through our strong partnership with Conservation International, one of the world’s leading conservation organizations, we’ve created a way to connect consumers to their passion for wildlife and the natural world, enabling them to contribute and make an impact.”

Issuers around the world can access the Wildlife Impact Card program, the release stated. The inaugural card offerings roll out in the U.S. in collaboration with Usio, with prepaid cards available in the coming week that have the ability to be added to all mobile wallets. Tangible cards, which will be made from completely recycled materials, will roll out in the summer.

Moreover, individuals can further help the cause by donating to Conservation International via the Mastercard Donate platform, the release stated.

Beyond the Wildlife Impact Card initiative, Mastercard is teaming with Conservation International and World Resources Institute on the Priceless Planet Coalition, according to the release.

In addition, Mastercard has pledged to attain net zero emissions by 2050, “building on existing commitments to reduce greenhouse gas emissions aligned with a 1.5-degrees Celsius climate trajectory,” the release stated.

As PYMNTS previously reported, Mastercard and Doconomy, a Swedish FinTech, have teamed to build out a tool that allows individuals to determine the carbon footprint of their shopping habits. The Mastercard Carbon Calculator is now part of the firm’s global network and can be tailored to suit the needs of eco-conscious bank customers.