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Intuit, AOL in online deal
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November 23, 1999: 2:29 p.m. ET
Companies to launch service for paying household bills online
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NEW YORK (CNNfn) - Intuit Inc. and America Online Inc. Tuesday set plans to offer a service for paying household bills online.
The five-year deal calls for the companies to give consumers the ability to view, track and pay their bills online, whether issued electronically or on paper.
The companies plan to launch the service early next year.
Intuit (INTU), a maker of personal-finance software, will be the sole provider of bill tracking and payment services under the AOL (AOL) brand.
AOL and Intuit will provide utilities, credit card companies and other billing entities with a way to present bills to their customers.
For a monthly fee, which is yet to be determined, consumers can also direct billers, who do not provide electronic billing, to send paper bills to an Intuit address where they will be scanned into an electronic format.
Intuit shares climbed 2-9/16 to 44-7/16 in afternoon trading. AOL shares rose 1-9/16 to 83-1/4.
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Intuit
America Online
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