Mint Introduces Bill Pay, Helping Millions to Never Miss a Bill
December 06 2016 - 09:00AM
Business Wire
Mint, from Intuit Inc. (Nasdaq: INTU), is adding bill tracking
and payment to its free personal finance app to help millions of
Americans effortlessly stay on top of bills. New intelligent
features send automated reminders, update payment status, and
suggest bills to sync based on prior transaction history, with no
additional set up needed for existing Mint users. The tools aim to
take the work out of bill management by doing what Mint does best:
seamlessly integrating data from multiple sources into an
actionable picture.
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Bill pay in Mint app (Graphic: Business
Wire)
Each year, nearly 25 percent of Americans miss a bill payment,
opening the door to late fees, increased interest and a potential
negative impact on their credit score. These missed payments result
in financial stress and more than $77 billion annually in late fees
and interest payments – money that could otherwise help overcome
the challenges of living paycheck-to-paycheck, paying off debt or
saving for the future.
Additional Mint customer research has revealed that people
currently maintain rather complicated systems for managing their
money. From sticky notes and calendar reminders, to spreadsheets
and logging in to multiple websites, many existing systems have
gaps, leaving opportunities to make mistakes and miss payments. The
addition of bill management tools in Mint makes the app a powerful
all-in-one-place resource to solve everyday challenges.
“While many people budget and review their finances, everyone
needs to keep track of bills,” said Al Ko, general manager and
senior vice president of Intuit’s Mint business. “The addition of
bill reminders and payment makes Mint the natural home for millions
of people, both new and existing users, to have a healthy
relationship with their money, reduce stress and ultimately,
achieve their financial goals.”
Available for iPhone, iPad and Android, Mint solves a complete
range of bill pay tasks by helping people make payments, as well as
manage and track bills – eliminating the need to log into multiple
accounts to manage their finances. People can also set alerts and
receive notifications to remind them when payments are due, as well
as access a calendar to view upcoming and past due bills. Specific
features include:
- Smart Reminders: Sends
notifications with bill amounts and due dates so people can quickly
and easily review and pay on the spot.
- Two-Tap Payments: Learns an
individual’s payment history, so it’s just two taps for people to
pay in the future, saving time without the need to log in to
multiple accounts to pay bills.
- Quick Payments: Expedites
payments through Mint, often paying in one day.
- Free Payment Options: Provides
free checking account payments and bill tracking for an unlimited
number of payments per month.
- Easy Onboarding: Auto populates
bill tracking and reminders for existing bills with no extra setup
for those with an existing Mint account.
- Credit Score Snapshot: Offers
in-app, real-time credit score updates from all three major credit
bureaus, so individuals can keep tabs on their financial profile
and take steps to improve it by using bill tracking and payment in
Mint.
First-time users will access bill pay online at Mint.com or
download the mobile app. To learn more, visit the MintLife blog or
connect with Mint on Facebook, Twitter or Instagram.
About Intuit Inc.
Intuit Inc. creates business and financial management solutions
that simplify the business of life for small businesses, consumers
and accounting professionals.
Its flagship products and services
include QuickBooks® and TurboTax®, which make it
easier to manage small businesses and tax preparation and
filing. Mint provides a fresh, easy and intelligent way
for people to manage their money, while Intuit's
ProConnect brand portfolio includes ProConnect Tax
Online, ProSeries® and Lacerte®, the company's leading
tax preparation offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.7 billion in its
fiscal year 2016. The company has approximately 7,900 employees
with major offices in the United States, Canada,
the United Kingdom, India, Australia and other
locations. More information can be found
at www.intuit.com.
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Intuit Inc.Kimmie Greene,
650-944-4681Kimmie_Greene@intuit.com
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