Caribbean Integrated Financial Services (CarIFS), the national debit network of Barbados, has selected Fiserv technology to offer secure processing services to its connecting members.

CarIFS, which serves the region’s five commercial banks and three credit unions, upgraded to the latest version of POSH- Fiserv’s switch solution for payment transactions.

The technology vendor said that the selection of POSH will allow CarIFS to support EMV chip card issuing and acquiring for its members, and facilitate new payment technologies such as mobile payments.

Prism Financial Processing Services, operator of CarIFS general manager Tony Del Castilho said: “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.”

POSH supports terminal management, payment, authorisation and switching as a standalone solution and can also be used as an addition to existing legacy payment infrastructure.

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By GlobalData

 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. The latest product upgrades for POSH are full-featured EMV support, remote key injection handling, mPOS support and robust integration capabilities.