Checkfree Corp. said it has signed an agreement with an undisclosed Internet portal to let its users receive and pay bills on-line.
Matt Lewis, a Checkfree senior vice president, said he wouldn't disclose the name of the "large Internet portal" until a service is ready for commercial release.
Avivah Litan, a research director at Gartner Group, said in an interview that "my information is that it is Yahoo."
Heather Bellini, an analyst at Lehman Bothers, said such a deal would signal a change in Checkfree's business strategy of working closely with its banks.
Shares of Checkfree's stock rose 21% Monday and 5% Tuesday on speculation surrounding the deal, which was originally reported in Atlanta Journal-Constitution.
Checkfree's closing stock price of $36.125 Tuesday represents a 55% increase through January.