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Intuit buys bill-payment app Check for $360M

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MOUNTAIN VIEW, Calif. (5/28/14)--Intuit, the owner of personal-finance software mainstays, Quicken and TurboTax, has acquired Check, a mobile bill-pay provider, for $360 million. ( The Wall Street Journal May 27).
 
Check's smartphone app works similar to PayPal. Consumers are required to link to their financial institution's accounts to enable the app, but the payment process does not require them to visit their financial institution's website ( Washington Post May 27).
 
The service lets users monitor their financial accounts from their mobile devices and creates automatic reminders for upcoming bills. It draws revenues by displaying advertisements.
 
Intuit has acquired several personal finance application providers in the last few years. In 2009, it purchased Mint, the personal-finance software provider. Last year, it purchased document service DocStoc, tax-return helper GoodApril and small-business scheduling tool Full Slate. Earlier this month it bought inventory-tracking software Lettuce.