Letter to the Editor: Intuition on Intuit Deal

To the Editor:

Intuit's plans with Mint Software may not be as foggy as they appear to be at present ["Intuit to Pay a Mint for Unclear Gain," Sept. 16].

I recently received an e-mail from an Intuit account rep indicating that Microsoft will be suspending sales of MS Money and exiting the consumer market for personal financial management.

With a major competitor to Quicken exiting the market, combined with the acquisition of Mint — arguably one of the better-known free sites for PFM — I see Intuit angling for a much bigger share of the consumer market. As Intuit becomes the 800-pound gorilla, its appetite for increased licensing fees will also grow.

If you're a banker with an Internet banking site, I'd hold on to my wallet, because Intuit's going to want to take a great big bite out of it.