RealTime IT News

AOL, Intuit to Create Online Bill Payment Service

America Online Inc. and Intuit Inc. Tuesday joined forces to offer a comprehensive online bill payment service.

Financial terms of the agreement were not disclosed.

Powered by View and Pay Bills by Quicken, the companies will begin rollout across multiple AOL (AOL) brands in early 2000.

Under the five-year agreement, Intuit (INTU) will be the exclusive integrated provider of this bill tracking and payment service to AOL and AOL.COM.

The new service will give consumers the ability to view, track, and pay all of their bills, regardless of whether they require a paper check or may be paid electronically.

Consumers may view their bills and easily provide the necessary information to have funds transferred from their existing bank account and then hit a button to have payments made.

Clients can also direct billers who do not provide electronic billing to send paper bills to an Intuit address where they will be scanned into electronic format. The companies have yet to determine the monthly fee for the service.

"Teaming with America Online gives us the chance to bring this opportunity to tens of millions of their members and visitors to their portal site, in addition to Quicken.com, where Intuit's electronic bill presentment and payment service debuted last week," said Bill Campbell, Intuit's chairman and acting chief executive officer.