Intuit acquires Paytrust customers

Customers of the PayTrust online bill pay service are now customers of Intuit, publisher of the popular Quicken, Quickbooks, and TurboTax personal and small-business finance software packages.

Intuit purchased Paytrust's customer base from Metavante--a banking and bill-pay technology company owned by Wisconsin-based Marshall & Ilsley--at the end of 2004, Metavante spokesman Chip Swearngan said. Financial terms of the transaction were not disclosed, but Swearngan said Metavante's Bill Manager V6 software will continue to power the site.

"The intent is to make this a positive thing for Paytrust customers," said Ed McLaughlin, one of Paytrust's founders, adding that as a major provider of consumer services, Intuit would be able to grow the business in a way the more corporate-focused Metavante couldn't.

Earlier in the year, Intuit and Metavante had reached an agreement to migrate Quicken Bill Pay customers to the same Metavante software.

The sale of Paytrust's customer base to Intuit was not announced publicly, and customers only learned they had a new bill-pay provider this week, either by e-mail or by logging in to the service and being asked to consent to Intuit's privacy policy. Intuit spokesman Chris Repetto said the Paytrust name would likely eventually disappear from the Web site, to be replaced by Quicken branding.

Benefits to Users

Repetto said that Intuit would be able to provide free phone support around the clock; Paytrust's phone service, while free, was only available 16 hours a day.

Intuit's default privacy policy allows Intuit to market products and services to customers, as did Metavante's--but Metavante didn't have a whole suite of other consumer products to market, the way Intuit does.

However, Repetto said, customers could opt out of receiving offers. Paytrust customers can find a link to a page where they can opt out of receiving offers from Intuit marketing partners toward the end of the new Paytrust privacy policy statement.

With its acquisition of in 2000, Paytrust became one of the most prominent online bill pay services of the dot-com era. Neither Intuit nor Metavante would disclose how many clients Paytrust has, but analyst Jim Van Dyke of Javelin Strategy & Research estimated the number falls between 100,000 and 200,000.

Van Dyke said that from the companies' standpoint, the deal made sense because both Paytrust and Intuit's Quicken line "are two products that I would call interface-heavy." Also, neither has been attracting new customers lately, and the partnership might help grow both the businesses, he said.

TowerGroup analyst Beth Robertson concurred, adding that she couldn't imagine that the service would change in a way that would alienate users. "The core functionality is still being run by Metavante, so you'll still have the same level of service," she said.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Yardena Arar

PC World
Show Comments


James Cook University - Master of Data Science Online Course

Learn more >




Back To Business Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles


PCW Evaluation Team

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?