Bilt from Kairos has launched in the United States, and it brings a new method of payment that allows credit cards to be used for paying rent, among other things. Kairos has partnered with real estate owners or landlords in the country for this venture, potentially opening up a massive possibility to pay for rent and earn rewards in the process.
Alain Filiz shows off some of his credit cards as he pays for items at Lorenzo's Italian Market on May 20, 2009 in Miami, Florida. Members of Congress today passed a bill placing new restrictions on companies that issues credit. The vote follows the Senate passage of the bill, which now heads for President Obama's promised signature. The bill will curb sudden interest rate increases and hidden fees, requiring card companies to tell customers of rate increases 45 days in advance. It will also make it harder for people aged below 21 to be issued credit cards.
Kairos' Bilt Mastercard and Bilt Rewards are here to aid people in their payment of rent, particularly as before this, owners only require tenants to pay upfront with cash, and other "good as cash" methods like debit cards. There are massive requirements for a real estate owner to allow a credit card for payment, and it includes a lot of applications that make it a hassle for them.
Online payment methods that are good as cash include PayPal and Venmo, among other financial technology companies which offer the same services. And while there are a lot of popping up places that accept cryptocurrency as payment for goods and services, sometimes, money is still the currency that most people speak and understand.
Bilt by Kairos for Rent Payment
According to the recent press release by the Finance Technology (fintech) company of Kairos, their Bilt Mastercard and Bilt Rewards platform have already launched in the country. What this brings is the regular credit card which can be used for daily transactions, alongside its partnership with several real estate owners in the country that rents units.
Most of the country's real estate owners or landlords still resort to old-school cash payments, which is a fast and sure way of getting the money from their tenants and customers. Some accept digital technology's advancements, and some do not.
But the great thing here is that Bilt and Kairos have opened up new possibilities to allow people in paying for their rent, in an all-in-one card system, as most credit cards are universally accepted. Not to mention, Bilt is a Mastercard.
Moreover, Bilt and Kairos were recommended by Miami Mayor Francis Suarez, in which the fin-tech company would have operations in, and be used on several of its real estate companies.
great company built by an even better friend—check out @biltforyou @ankurjain_2 pic.twitter.com/LCa1k4hhHO
— Mayor Francis Suarez (@FrancisSuarez) June 22, 2021
Bilt Mastercard and Bilt Rewards
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The world is truly evolving and is going more into digital technology, with the example of Bilt's Mastercard from Kairos. Instead of a purely cash-based system, residents and landowners will have the chance to have options for their rental setups and can be arranged with their contracts and leases.
On the other hand, Kairos introduces another feature for this, and it includes a rewards system for the credit card which can accumulate points. Through this system, points that are saved with every purchase can be used for other features like air travel, shopping, groceries, and more, with discounts.
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Written by Isaiah Richard
