• Contact Us
• Account Login |
• Investor Relations |
• Japan |
• UK/EMEA |
• News & Events |
• Company |

• Products / Services
  • Global Payment Services
    • Credit Card Processing
    • Electronic Check Processing
    • Recurring Billing Service
    • Bill Me Later®
    • PayPal
    • Automated Payment Reconciliation
  • Risk Management
    • Decision Management Solutions
    • Fraud Screening
    • Payer Authentication
  • Reporting & Reconciliation
  • Payment Security
  • Implementation Options
  • Professional Services
  • Small Business / Authorize.Net
• Solutions
  • Advanced
  • Airlines
  • Retail / Brand Direct
  • Media, Entertainment, Telecom
• Developers
• Resources
• Partners
• Support Center
  • Support Documentation
  • Support Tools
  • Implementation
  • Management
  • Alliances Resource Center
  • International Support

Home : Press Room : H&R Block Selects CyberSource® to Power Payment Processing for Online Tax Preparation Services and Software

H&R Block Selects CyberSource To Power Payment Processing

MOUNTAIN VIEW, Calif., March 18, 2002

CyberSource Corporation (Nasdaq: CYBS), a leading provider of electronic payment and risk management solutions for enterprise businesses, today announced that H&R Block has chosen the CyberSource Payment Service to power electronic payment processing for the tax preparation tools, services and software available on its Web site at http://www.hrblock.com

"During the next few weeks leading up to April's tax deadline, we expect a surge in the number of taxpayers who utilize our online tools to complete their returns and file online," said Aaron Horvath, Director of Online Products at H&R Block. "With more and more taxpayers using our software and services and filing their returns online, we required a high-volume payment processing solution that could be quickly implemented. CyberSource offered the most reliable and advanced payment service among those we considered."

With some of more than 440 tax law changes taking effect for 2001 returns, and an anticipated increase in the number of electronically filed returns, U.S. taxpayers this year will be looking online for convenient, professional assistance from a trusted source. H&R Block delivers this via the company's Web site, which this year debuts new products, services and technical enhancements that offer the widest range of online taxpayer services on the Internet.

The CyberSource Payment Service allows real-time payment for these items via credit, debit, or procurement card and/or electronic check, providing H&R Block a fast, secure, reliable, electronic payment service without the complexity of maintaining an in-house system, and giving H&R Block customers the flexibility to use their preferred method of payment.

"H&R Block joins many other Fortune 1000 companies who have entrusted CyberSource with their online payment processing," said Dave Daetz, Senior Vice President of Corporate Business Development, Marketing and Product Management at CyberSource Corporation. "The CyberSource Payment Service is ideal for businesses like H&R Block that want an outsourced solution that easily integrates with existing systems, scales to support large transaction volumes, and utilizes the industry's most secure means of transaction authentication."

The CyberSource Payment Solution

The CyberSource payment solution, available as an outsourced service or in-house managed software, operates behind-the-scenes to authorize and settle electronic payments through built-in connections with third-party processors and merchant banks. Developed for large enterprises with demanding needs, CyberSource payment solutions support web, call center, IVR and POS sales environments. CyberSource payment solutions integrate smoothly with major commerce platforms, ERP and CRM systems, and are designed for compatibility and interoperability with new standards and products. Both CyberSource software and outsourced payment service options provide real-time, multiple currency support and integrate seamlessly with CyberSource's risk management solutions, giving businesses a powerful way to protect against losses from fraud.

Further, with the CyberSource Payment Service, enterprise businesses, such as H&R Block, can rely on fast, secure, reliable, electronic payment service, worldwide, without the complexity of maintaining an in-house system.

Additionally, CyberSource is the only payment transaction provider in the industry to utilize a highly secure Public Key Infrastructure (PKI)-based cryptographic security model to authenticate and secure 100 percent of the transactions processed on behalf of its more than 3,000 customers worldwide. Unlike other security solutions, such as basic username and password authentication, which typically consists of only eight characters and can be compromised by "hackers", the CyberSource system utilizes a private key, known only by the merchant, with over 1,024 bits of data used to authenticate each transaction, making it virtually impossible to penetrate.

More on CyberSource payment solutions:

http://www.cybersource.com/solutions/electronic_payment/

About H&R Block

H&R Block, Inc., is a diversified company with subsidiaries providing a wide range of financial services and products. In 2001, H&R Block served 19.2 million taxpayers - more than any tax or accounting firm - through its more than 10,400 offices located in the United States, Canada, Australia, and the United Kingdom. H&R Block served another 2.3 million tax clients through its award-winning TaxCut® software program and its online tax preparation services. Investment services and securities products are offered through H&R Block Financial Advisors, Inc., member NYSE, SIPC. H&R Block, Inc., is not a registered broker-dealer. H&R Block Mortgage Corporation and Option One Mortgage Corporation offer a wide range of home mortgage products. RSM McGladrey, Inc., is a national accounting, tax, and consulting firm with more than 100 offices nationwide, as well as an affiliation with 550 offices in 75 countries as the U.S. member of RSM International. Additional information is available on the company's Web site at www.hrblock.com.