Intuit iPhone-friendly Quicken priced at $3/month

Discussion in 'iPhone' started by Manj27, Dec 19, 2007.

  1. Manj27 macrumors member

    Jul 10, 2007
    Surprised to see Intuit did not wait till the SDK was released.......


    UPDATE 2- Intuit iPhone-friendly Quicken priced at $3/month
    By Jim Finkle
    741 words
    18 December 2007
    Reuters News
    (c) 2007 Reuters Limited
    (Adds executive comments, background, byline)

    BOSTON, Dec 18 (Reuters) - Intuit Inc is looking to boost Quicken personal finance software sales by offering it as a service for $3 a month that can run on Apple Inc's iPhone.

    It hopes the product, which launches on Jan. 8, will vastly expand Quicken's 14 million users and boost the market penetration of a brand that already generates about 1.7 million new copies of software a year, Intuit senior vice president Rick Jensen told Reuters in an interview on Tuesday.

    Intuit has designed the product to appeal to younger consumers, people who may have used online banking for most of their adult lives, but do not use software to track those transactions.

    "Our first mission is to make sure we are solving the needs of people who are not currently using a personal finance solution," he said.

    Sales of the Quicken brand have basically been flat since peaking in 2001, but it has recently taken some business away from its only key rival, Microsoft Corp , according to market researcher NPD.

    Quicken's U.S. market share rose to 80 percent in the first 11 months of this year from 72 percent in 2006. Microsoft Money's share of sales declined to 19 percent from 25 percent in the prior year, according to NPD.

    NPD declined to provide specific dollar sales figures.

    While Intuit does not release sales figures for Quicken, NPD says that, so far this year, the product has been selling at an average of $53.38. At that price, 1.7 million copies would ring up to about $91 million.

    Quicken online will be accessible through regular Web browsers and most mobile devices with browsers, protecting the data with the same technologies that banks use to secure online transactions.

    But it will be tough to read on small screens.

    The version that Intuit has developed for iPhone has been designed for use on-the-go, offers fewer features than the version for regular Web browsers and is optimized for iPhone screens.

    Intuit, whose products range from small-business accounting software with QuickBooks to tax preparation programs with TurboTax, also plans to tweak the service so it works on the Blackberry from Research in Motion Ltd and other mobile devices.

    But company officials declined to say when that will happen.

    They said they decided to tweak the product for the iPhone ahead of other devices because Apple enthusiasts tend to be early adopters of new technologies. They may be more likely to embrace a software as a service product, said Jim Del Favero, product manager for the Quicken group.

    Intuit, the world's largest maker of financial software for consumers and small businesses, has already launched online versions of TurboTax, which have been used by millions of tax filers, and QuickBooks, which has some 120,000 users.

    Online Quicken is targeting millions of younger, Web-savvy consumers who generally eschew software that must be installed.

    Teenagers and young adults are willing to pay for software, but they are not interested in spending time to buy it and install it on a PC, or want to be restricted to using it on one device, Jensen said.

    "It's about the amount of work and time they are willing to invest," he said. "Even going out and shopping for a piece of software in the store. They are not interested in that."

    The program's functionality will be similar to what is available on the entry level version in Intuit's Quicken line. That would give users the ability to do things such as balance their checkbooks, review spending patterns and track cash flow.

    Quicken's desktop software already allows users to download banking information, credit card charges and electronic bills. The new online product will be able to do that, but will be easier to set up, he said.

    It will automatically download new information as those companies make it available. In the case of credit card charges, transaction details will be pushed out to Quicken online users as they are accrued, rather than requiring customers to wait until the end of the month to see all charges for the period, he added. (Reporting by Jim Finkle; Editing by Brian Moss/Andre Grenon)
  2. eji macrumors 6502


    Jun 8, 2004
    Inland Empire
    They're looking to claim any favorable publicity they can get, given the QuickBooks desktop deletion fiasco.
  3. Manatee macrumors 6502a


    Oct 20, 2003
    Washington DC
    Just wait until the fiasco where someone breaks into their system where the Quicken iPhone users, who can't store any data locally, keep all their financial information. ;) February (aka "SDKuary") can't come soon enough!
  4. Flowbee macrumors 68030


    Dec 27, 2002
    Alameda, CA
    Ugh... I'm forced to use QuickBooks Online at work and it totally blows. Sluggish, frustrating, IE only. As if accounting needed to be any more painful...

    I think I'll give this a pass.
  5. vlj9r macrumors member

    Feb 18, 2007
    So Intuit announces an iPhone version of quicken but they have no clue on a release date for Quicken 2008 Mac.

    "Why hasn't Quicken Mac 2008 launched along with the Windows based Quicken products?
    Intuit is currently planning for 2008 Quicken offerings and is investigating the best possible ways to serve the entire Quicken community. With anticipation of the launch of the new Mac OS X (Leopard) and Intuit's ongoing focus on delivering customer driven innovation, more information around future Mac offerings will be shared at a later time.
    The Mac community is important to Intuit and our goal is to deliver the best solutions for new and existing customers to help them better manage their business and personal finances.
    Customers may either upgrade to Quicken Mac 2007 or stay on their current version. All versions will be fully supported per our standard support policy. Quicken Mac 2007 is available in select retail stores and direct from Intuit at

    When will Quicken for Mac 2008 be released?
    More information about future Mac offerings will be shared at a later time. Keep an eye on this page for new information."
  6. junker macrumors 6502


    Jul 3, 2006
    An obtuse corner of the Triangle
    The first 3 posts pretty much sum up the good points and observations...esp. #2, Egads!

    Maybe I'm just cheap - but 3 bucks a month??? ya gotta be kidding! Is this the first iphone app to charge monthly (other than At&t itself?)

    I have it on my dsktop, so why would I want to use this anyway? For up to the second information? I dunno... sounds like a tough sell maybe.
  7. speakerwizard macrumors 68000


    Aug 8, 2006
    so the usual is ie only, they make it useable on iphone with a few hundred thousand owners but ignore the millions of mac users haha, logical.
  8. Squonk macrumors 65816


    Mar 15, 2005
    Great! Now we can balance our checkbooks while we are at $tarbuck$. Just what we really need. :rolleyes:

    And I hope they don't have any boneheaded bugs like the QuickBooks fiasco from earlier this week. :p

    I just cannot see paying $3 a month for this.
  9. coolbreeze macrumors 68000


    Jan 20, 2003
    If this is any indication of app pricing, I think us iPhone owners are in for shock. Intuit obviously wants a portion of the almighty iPhone owner dollar, and I have a sinking feeling that hundreds more apps are going to take this "subscription" angle. One time sales aren't enough anymore, businesses want that steady income called the subscription model.

    I hate these types of nickle and dime operations. Just sell me a piece of software that I can use, don't bill me thousands of dollars over my lifetime for something that can be purchased for $50. :mad:
  10. Rocketman macrumors 603


    After they float this trial balloon, they will be forced by consumer feedback to switch to a $50 front fee plus $1 a month for data hosting at the main site.

    Then the uptake will be noticeable, and with China coming online soon, that will be real money.

  11. bignumbers macrumors regular

    May 9, 2002
    I suspect (and hope) the $3/month will be for a general-purpose online version of Quicken that happens to be optimized for the iPhone.

    If that's the case, it could be a useful product for some people. The full Quicken is $70 and updates (usually, snicker snicker) come every year. So $36/year isn't all that bad. They've said it will have fewer features but most people don't use all of Quicken's features.

    I used to use the aftermarket Pocket Quicken on my old Treo 650. It was a quick way to enter expenses while on the road, then it would sync up to my Mac later. I think that's kind of what they're intending for the iPhone - just quick data entry and retrieval while on the road. But any significant entry would be done from a regular computer and web browser. That's just my guess - I have no knowledge about this at all.

    One plus of the iPhone commitment is a commitment to standards. This should mean the non-iPhone version of Quicken for the Web would work in Safari/Mac, rather than the idiotic ties to IE/Win for QuickBooks.

    I won't dispute the arguments against storing this stuff online though. I'd want to read their privacy policy a few times through before even considering it.

    But then again I could be wrong - it could be nothing but a crappy iPhone-only thing, which would be worthless. Or for yuks the non-iPhone version could require IE/Win, wouldn't that be a kick...
  12. GoCubsGo macrumors Nehalem


    Feb 19, 2005
    I'm with you on this one. Besides, I'm not fond of keeping this information on their servers but maybe that's not the case and I don't get it.

    I'm never paying a monthly fee to use an application that would be better used at home especially with my finances.
  13. JGShort macrumors newbie

    Dec 18, 2007
    Near Houston, TX
    Amen to both points!
  14. plumbingandtech macrumors 68000

    Jun 20, 2007
    I'm the same way with gmail, stopped using it. Do Not trust google with my data.
  15. cubedweller macrumors 6502

    Nov 25, 2007
    Just curious, but why would anyone want to store their financial information on Quicken's site? Do you really trust them? I have a hard time trusting BofA and WaMu nevermind Quicken.
  16. Squonk macrumors 65816


    Mar 15, 2005
    You know, I'd actually be OK storing my information on their site. The way I use quicken is as a standalone application. I do not download transactions from my credit cards or banks. So, if I had my 4 checkbook registers (2 savings, 2 checking) and 2 credit cards out there but there was no link to any financial institution or account numbers, the individual transactions and running balance would not be of use to anyone I wouldn't think...

    I guess if I were using an online version of quicken, it might be "nice" to be able to use iPhone/Touch to look at information. But I don't see myself doing that.

    My version of Quicken 2006 for the Mac is crappy enough as is, I cannot imagine their web version being any better although it wouldn't take much to be better.... I miss my MS Money03. When I get my new MBP in January, I may just load up my Money03 in VMWare and be done with Quicken!
  17. TurboSC macrumors 65816


    Aug 4, 2007
    hahah that's true. I dunno, I like the concept of personal finance applications on your desktop, but anywhere besides my desktop is a little sketchy for my tastes.
  18. fixyourthinking macrumors 6502a


    Oct 24, 2002
    Greenville SC
    $3 a month too high

    $36 a year is not in my budget ...

    I could understand a one time "module plugin" charge of $36 and require Quicken ... but that's absurd!
  19. plumbingandtech macrumors 68000

    Jun 20, 2007
    Actually I was thinking that was sort of cheap. They should allow for a 12 month prepay for $31 or so, but if you have an iphone, I don't know how $36 (To that can manage all your monies and save you more then $36 + (Quicken which I already own.) at tax time due to it organizing you over the course of the year) can be considered expensive.
  20. Anonymous Freak macrumors 601

    Anonymous Freak

    Dec 12, 2002
    a.k.a. "Apple enthusiasts have shown a willingness to pay extra for things they deem 'cutting edge', so we'll try to ream them for a few bucks." Of which, a Quicken web service is *NOT*.
  21. BWhaler macrumors 68020


    Jan 8, 2003
    Well, I am square in the demographic Intuit it trying to attract, but there is no way I would sign-up for $3 per month with those scumbags.

    Intuit: Try making some high quality products for the Mac--Quicken & Quickbooks for the Mac has sucked for years--then maybe I'll consider giving you more money.

    Intuit: The Last Company to Make the Intel Switch.

    Disgraceful. Probably only Symantec is worse.
  22. canadianmacguy macrumors member


    Apr 8, 2002
    You have a hard time trusting BofA and WaMu with your bank data? You realize they are banks, correct? That's their entire business, financial transactions..

  23. Anonymous Freak macrumors 601

    Anonymous Freak

    Dec 12, 2002
    Not to mention the fact that this is the company that just released an update that kills all items on your desktop, and their solution is "don't turn your computer back on."

    (And I have to say I think Intuit is worse than Symantec. But maybe that's only because I've had to deal with Intuit tech support.)
  24. HardyMacia macrumors newbie

    Dec 17, 2007
    From the sounds of it, it is going to be a web 2.0 app so you'll have to use Safari on iPhone to log into their site.

    Which means no balancing your checkbook while on the plane or other places where your iPhone doesn't have a decent Edge/WiFi connection. Even then using a webapp to enter data on the go (at a checkout counter) is frustrating. These are a couple reasons why I decided to go the native application route for PocketMoney* instead of a web app.

    (*disclaimer: PocketMoney developer)
  25. plumbingandtech macrumors 68000

    Jun 20, 2007

    Hey I loved your software in the Newton Days!!! So you are bringing back pocketmoney?! I'll defintately check it out.

    Here's hoping the 3rd party sdk brings back a whole bunch of Newton Devs!!!

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