SAN ANTONIO - Princeton eCom, a New Jersey provider of electronic billing services, has acquired Intuit's online bill presentment and payment service, Quicken Bill Manager, for an undisclosed price.
New Century Equity Holdings Corp. of San Antonio, a major investor in Princeton eCom, announced the completion of the deal Wednesday.
Princeton will market Quicken Bill Manager's front-end capability to financial institutions directly and through its online banking software partners. The company already provides back-end payment processing to more than 950 institutions.
The e-billing company also acquired the right to market electronic bill payment and presentment services under the Powered by Quicken Bill Manager brand.
As a result of the transaction, Princeton will provide electronic billing and payment services to consumers who currently receive and pay their bills through Quicken.com, Excite, and Webcrawler. Later this year it will begin providing payment processing services to Intuit's Quicken Desktop customers.