Fiserv enables Caribbean Integrated Financial Services to deliver
more robust and secure processing services to its connecting members
MEXICO CITY & BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that Caribbean Integrated
Financial Services (CarIFS), Barbados' national debit network, has
upgraded to the latest version of POSH™ from Fiserv, a robust and
flexible switch solution for payment transactions. CarIFS has been
operating POSH since 2008 and chose to upgrade to deliver greater
functionality and more secure processing services to its connecting
CarIFS serves five commercial banks and three credit unions in the
region, processing more than eight million transactions a year. The
latest version of POSH is strategic to CarIFS's long-term plan to
support EMV™ chip card issuing and acquiring for its members, as well as
to enable new payment technologies, especially mobile payments. This
increased functionality will allow CarIFS to better serve their member
financial institutions and consumers who want to transact whenever,
wherever and however they choose. POSH has achieved PCI Payment
Application Data Security Standard (PA-DSS) certification providing
CarIFS with advanced security standards.
"Providing secure, compliant and reliable payments processing services
to our connecting members and achieving PCI PA-DSS certification is of
critical importance to us. By enhancing our existing Fiserv payments
platform, we have full confidence that we will be supported in our
objectives by a proven and reliable vendor who will continue to offer
the highest standards of technology, service and support," said Tony Del
Castilho, General Manager, Prism Financial Processing Services Ltd.,
operator of CarIFS.
Available to organizations outside the U.S., including U.S. territories,
POSH can be used as a stand-alone solution for terminal management,
payment, authorization and switching or as an addition to an existing
legacy payment infrastructure. Supporting multiple global currencies,
the solution helps ensure a transaction is delivered to the issuer or
network with full compliance, meeting all PCI security standards.
To facilitate the support of multi-channel transactions for merchants,
the most recent product enhancements for POSH include full-featured EMV
support, remote key injection handling, mPOS support and robust
integration capabilities. Fiserv offers high availability options to
help ensure constant, real-time authorization. Through its stand-in
processing module, it can also provide availability during both planned
and unscheduled outages. Running on a cost-effective, easy-to-maintain
Windows-based server platform, POSH can help clients reduce investment
risk and improve operating efficiency.
"Fiserv processes billions of transactions annually for clients across
the globe, and we understand the complex processing needs of payment
switch providers, financial institutions, merchants, cash in transit
operators and third-party processors," said René Salazar, managing
director, Latin America, Caribbean and Canada, Fiserv. "With this
upgrade to the latest version of POSH, CarIFS is utilizing proven
technology to offer payment processing that keeps pace with the way
people want to transact."
In a world that is moving faster than ever before, Fiserv helps clients
deliver solutions that are in step with the way people live and work
today - financial services at the speed of life. Learn more at TheSpeedofLife.com.
About Caribbean Integrated Financial Services Ltd. (CarIFS)
established in 1998, is the domestic debit network in Barbados which
links over 200 automated teller machines and over 3,000 Point-of-sale
terminals throughout Barbados. CarIFS processes over eight million
transactions annually, performs certification and provides daily
settlement for its eight members. The CarIFS network is managed by Prism
Financial Processing Services Ltd.
About Prism Financial Processing Services Ltd. (PFPS)
a subsidiary of the Digicel Group of companies, provides outsourced
management and operating services to CarIFS and the Barbados Automated
Clearing House Services Inc. (BACHSI), two vital service providers that
facilitate the efficiency and effectiveness of the financial networks in
Barbados. PFPS also helps to further develop the payments industry in
the Caribbean region through the provision of services for establishing
and operating debit networks and Automated Clearing Houses.
Fiserv, Inc. (NASDAQ: FISV) enables clients to
achieve best-in-class results by driving quality and innovation in
payments, processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more than 30
years, Fiserv has been a global leader in financial services technology.
In 2016, Fiserv was honored to be named a FORTUNE® magazine's
World's Most Admired Company for the third consecutive year; in 2015 the
company was recognized among Forbes magazine's America's Best Employers.
For more information, visit http://www.fiserv.com.
EMV is a trademark owned by EMVCo LLC.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170105005261/en/
Senior Manager, Public
Director, Public Relations
Source: Fiserv, Inc.
News Provided by Acquire Media