-
Fiserv selected as single technology partner for payment transaction
processing by InfoLink Services Limited (ISL)
-
ISL chose Fiserv to deliver cost effective, scalable, and PCI and EMV
compliant capabilities with proven reliability and maximum uptime
performance
-
ISL will use Fiserv as its single technology partner for electronic
payment transaction processing across the four major commercial banks
and three smaller financial institutions in Trinidad and Tobago
BROOKFIELD, Wis. & MEXICO CITY--(BUSINESS WIRE)--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that InfoLink Services Limited
(ISL) has chosen Fiserv as its single technology partner for all
electronic payment transaction processing, delivering PCI compliance and
EMV capability. ISL, a joint venture corporation equally owned by four
major commercial banks in Trinidad and Tobago, operates the LINX® debit
network, which switches over 40 million transactions per year for member
banks and licensees. ISL utilizes POSH™ from Fiserv for reliable
transaction processing throughout the payment transaction lifecycle.
"We selected Fiserv to consolidate our network into a single,
cost-effective and versatile solution that will meet all of our
foreseeable payment switching needs. The Fiserv solution offers us the
flexibility we need to provide future support for our Member banks and
Licensees, as well as ensuring scalable delivery to support future
growth and innovation," said Glynis Alexander-Tam, General Manager,
InfoLink Services Limited. "ISL reaches the debit users throughout
Trinidad and Tobago. End users of the LINX network will benefit from a
reliable, secure payments infrastructure with the latest EMV acceptance
capabilities."
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.
"ISL is a forward-looking organization with a strong reputation for
delivering a reliable debit network throughout Trinidad and Tobago. By
upgrading and consolidating to a single payment transaction platform,
ISL can deliver new services for their members quickly and cost
effectively," said Oscar Muñoz, senior vice president, LACC Payments
Solutions, Fiserv. "With successful implementations in numerous
countries and billions of transactions processed annually, Fiserv has
the expertise to handle the complex switching needs of organizations
like ISL, as well as financial institutions, merchants, cash in transit
operators and third-party processors."
Additional Resources:
About InfoLink Services Ltd.
InfoLink Services Limited (ISL) was incorporated on the 13th of
September, 1994. A Joint Venture between the four Major Financial
Institutions in Trinidad and Tobago, InfoLink was created initially to
provide a local debit card switching infrastructure with the vision for
providing further co-operative financial service initiatives in the
future.
It was noted by the visionaries of InfoLink that "a shared financial
infrastructure would not lessen or eliminate competition, rather it will
create and make possible in the future, many new avenues for the
provision of new services, improved customer service and reduced
transaction processing costs."
InfoLink under the LINX® brand switched its first transaction on
September 4th, 1995. This transaction was an ATM-Sharing transaction. By
November 1996, ISL was switching Debit Point-of-Sale (‘POS')
transactions also.
Shareholders and members of ISL include First Citizen Limited, RBC Royal
Bank (Trinidad & Tobago) Limited, Republic Bank Limited and Scotiabank
(Trinidad & Tobago) Limited. Licensees include Eastern Credit Union,
Bank of Baroda (Trinidad & Tobago) Limited and Intercommerical Bank
Limited.
About Fiserv
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 leader in financial services technology, and today is among
FORTUNE® magazine's World's Most Admired Companies and Forbes
magazine's America's Best Employers. For more information, visit www.fiserv.com.
FISV-G
View source version on businesswire.com: http://www.businesswire.com/news/home/20150917005272/en/
Media Relations:
Julie Smith
Senior Manager, Public
Relations
Fiserv, Inc.
+1 412-225-3182
julie.smith@fiserv.com
or
Additional
Contact:
Ann Cave
Director, Public Relations
Fiserv,
Inc.
+1 678-375-4039
ann.cave@fiserv.com
Source: Fiserv, Inc.
News Provided by Acquire Media