Mint.com users, soon you might be able to do more than just keep tabs on your bank accounts — you might be able to pay bills using the personal finance management service as well.
Intuit, the creator of TurboTax, Quicken, and Mint.com, has agreed to buy Check, a bill-paying app, in a $360 million deal, signaling the company’s intent to branch out further into the personal finance realm. Check is also the latest tech startup to be purchased by Intuit — last year the company also bought DocStoc, GoodApril and Full Slate. This year, the company hopes to pull in more than $20 million, according to the Wall Street Journal.
“Intuit started when founder Scott Cook wanted a better way to balance the family checkbook,” said Barry Saik, senior vice president and general manager of Intuit’s Consumer Ecosystem Group. “Our commitment to solving important personal finance problems is steadfast. By joining with Check, we continue to address consumer needs and are taking the next step in the evolution of personal finance capabilities.”
With the purchase, Intuit aims to serve and attract more customers. Check has 10 million members, who use the free app to stay on top of bills and payments. Registered users of Check can monitor various accounts, receive bill-pay alerts, and set up automatic payments for bills.
“Mobile is a key driver of bill pay opportunities,” said Guy Goldstein, Check’s co-founder and CEO. “We look forward to merging our talent, mobile mindset and spirit of innovation with Intuit to build products that delight consumers and become a part of their everyday financial lives.”
Check was founded in 2007 as PageOnce, a service to store passwords for multiple apps. Over time, it has shifted its focus to bill payments. With the acquisition of Check, Intuit plans to combine Check’s mobile offerings with its own personal finance solutions, Quicken and Mint.com.Related