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Intuit Inc. Message Board

  • mauricethepantsman mauricethepantsman Oct 4, 2000 8:36 AM Flag

    Good way to start the day!

    Here is some good news to start off the day. The
    sun is breaking through the clouds we've had of late.
    It'll be a good day in the
    neighborhood!

    Wednesday October 4, 8:06 am Eastern Time
    Press
    Release
    SOURCE: X.com Corporation
    Intuit and X.com Sign
    Five-Year Agreement to Deliver Internet-Based Payment
    Capability
    MOUNTAIN VIEW, Calif. and PALO ALTO, Calif., Oct. 4
    /PRNewswire/ -- E-finance leader Intuit Inc. (Nasdaq: INTU -
    news) and X.com Corporation (www.x.com), the largest
    provider of Web-based payment services, today announced a
    five- year agreement which makes X.com the exclusive
    provider of Internet-based payment services for selected
    U.S. Intuit products. Under the agreement, customers
    using selected Intuit small business and personal
    finance products will be able to use X.com's leading
    Internet-based payment service PayPal. In addition, Intuit's
    products will be the exclusive small business and personal
    financial management products on the X.com Web
    site.

    Intuit and X.com expect to inaugurate Internet-based
    payment capabilities in Intuit products within the next
    several months. X.com services will augment Intuit's
    existing online banking and related bill payment
    functionality and services, which are not affected by this
    agreement. Additional terms of the agreement and details of
    how X.com Internet-based payment services will be
    used in Intuit's products are not being
    disclosed.

    ``Teaming with Intuit will allow X.com to provide its
    Internet payment solution to potentially millions of new
    customers -- people who have already come to rely on Intuit
    for the best financial features and services
    available,'' said Reid Hoffman, X.com's senior vice president
    for business development. ``Given Intuit's success in
    helping people and businesses apply the power of modern
    technology to everyday financial activities, we look forward
    to broad adoption of our Internet-based payment
    service for both Internet-based and non-Internet-based
    transactions.''

    X.com's Internet-based payment service uses the speed and
    efficiency of the Internet to enable instant and secure
    transmissions for online payments -- person-to-person,
    consumer-to-business, and business-to-business.

    ``As a pioneer
    in Internet-based payments, X.com shares Intuit's
    vision of using the Internet to revolutionize how people
    and small businesses manage their financial lives,''
    said Raymond Stern, Intuit's senior vice president of
    corporate strategy and marketing. ``Combining the efforts
    of these two industry leaders offers exciting
    opportunities to deliver on this vision -- making online
    financial transactions easier, faster and more
    ubiquitous.''

 
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