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.
