Bilt Enables Item Level Merchant Targeting

Banyan turns Bilt from a card linked rewards app into a receipt aware commerce network. Instead of only seeing that a member spent $40 at Walgreens, Bilt can see which items were bought, match that receipt to a specific offer, and confirm whether a shampoo, vitamin, or OTC medicine qualified. That lets Bilt sell merchants tighter targeting, cleaner attribution, and automatic post purchase workflows like FSA and HSA reimbursement.

• Closed loop offers get much more precise. Banyan is built to pass qualified items, receipt details, and redemption records back to the financial partner within minutes, which means Bilt can run offers at the brand, category, or product level instead of paying rewards on every dollar spent at a merchant.
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• This matters because Bilt is already expanding from rent into neighborhood commerce. With 40,000 plus merchant stores on Banyan’s network and Bilt pushing its own network toward 100,000 locations, item level matching gives local merchants a stronger reason to pay commissions because they can see exactly what was purchased, not just that a visit happened.
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• The healthcare use case shows the revenue model clearly. Bilt and Walgreens launched automatic healthcare savings so members can use any linked payment card, have eligible FSA and HSA items identified from the receipt, and avoid manual reimbursement steps. That creates a new benefits administration layer on top of ordinary card spend.
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The next step is for Bilt to package this data into a broader merchant product. As more neighborhood merchants connect, Bilt can move from simple cashback distribution into SKU level audience targeting, verified in store conversion measurement, and category specific benefits programs that make its merchant network look more like an ad and loyalty platform built on top of payments.