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Mint Introduces Bill Pay, Helping Millions to Never Miss a Bill
MOUNTAIN VIEW, Calif. – Dec. 6, 2016 – 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.
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 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 credit score updates so individuals can keep tabs on their financial profile and take steps to improve it by using bill tracking and payment in Mint.
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.com provides a fresh, easy and intelligent way for people to manage their money, while Intuit's ProConnect brand portfolio includes 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.
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 and other locations. More information can be found at www.intuit.com.