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ECommerceTimes.com

Intuit Moving To Expand Online Payment Offerings

By Andy Wang
Oct 21, 1999 12:00 AM PT

Personal-finance software company Intuit (Nasdaq: INTU) announced today that it has joined forces with CyberBills to enable consumers to pay all of their bills online at Intuit's Quicken.com.

Intuit Moving To Expand Online Payment Offerings

Intuit will weave CyberBills' Total Bill Management service into Quicken.com's online payment and presentment service, which is expected to launch this fall. The new service will allow users to receive online bills directly from billers, as well as manage paper bills online.

Intuit says it will offer electronic bill presentment and bill payment services through both Quicken.com and the Quicken personal finance software, pursuant to a license agreement between Intuit and a joint venture company in which Intuit is a participant.

"Intuit is a trusted brand in consumer financial management and is the kind of partner which validates our vision and technology," said CyberBills president and co-founder Murali Chirala.

Payment Can Be Automated

Consumers will be able to use the new bill-paying service to automate all of their bills online. Quicken.com is already working with a variety of online billers, but the new service will allow users to view transaction details, pay full or partial balances and approve payment of their paper bills, all in one online location.

Quicken.com also offers personal finance services such as investment portfolio information, financial advice and comparison shopping for mortgages and insurance. The site features a Small Business Channel that offers content, services and tools to help users learn about and manage a small business.

In addition to the Quicken software, Intuit publishes small business accounting software QuickBooks and tax-preparation software TurboTax.

Other Deals

Yesterday, Intuit announced a multi-year deal with online automobile dealer Autoweb.com. Customers of Autoweb.com will now be offered online auto insurance through Intuit's Quicken InsureMarket.

The joint relationship will be promoted on Intuit's consumer Web site and Quicken software products.

Intuit also announced the QuickBooks Internet Gateway, which will give e-commerce companies access to the more than two million small businesses that use QuickBooks. Intuit will generate revenue by allowing other companies to market its products and services to QuickBooks' users.

Companies that have signed up for the Internet Gateway include Internet-based postal mailing solution company E-Letter, online postage company E-Stamp, business-to-business lending company First Sierra, e-commerce solutions company Intelisys, e-commerce payment service Signio, and Wells Fargo Merchant Services.

Intuit says it will receive $68.5 million (US$) from these companies and others over the next three years.


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