Company Overview

CheckFree was founded in 1981 when Peter Kight, then a health club manager, wanted his members to have an easy way to pay their annual dues. Initially producing a product bundled with the personal financial software packages Quicken and Money, CheckFree has since expanded its client base and product offerings. The company operates in three business segments: electronic commerce (electronic bill delivery and payment services and electronic banking transaction services), software and investment services (software, maintenance, support, and professional services), and investment services (investment portfolio management and investment trading and reporting services). Its electronic commerce segment delivers the bulk of overall revenue.