Intuit Inc. said it would announce today that it has renewed an agreement to process transactions for users of Microsoft Money personal computer software.
Intuit's subsidiary, Intuit Services Corp., was once the only processor of banking and bill-paying transactions for both the Intuit Quicken and Microsoft Money programs, the two best-selling in the personal finance field.
The companies had become increasingly competitive since Microsoft withdrew its acquisition bid for Intuit in 1995. Banks now have several processing alternatives, including a joint Microsoft-Visa offering.
Intuit Services said the "expanded multiyear agreement" will also cover additions to the Money product line.