Caribbean Integrated Financial Services Chooses Fiserv for Full EMV-Compliant and PCI-Certified Payment Transaction Platform
January 05, 2017 at 02:00 pm
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Fiserv, Inc. announced that Caribbean Integrated Financial Services (CarIFS) 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 members. 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.
Fiserv, Inc. specializes in the development and integration of IT solutions for the financial and insurance sectors. Net sales break down by activity as follows:
- on-line banking and investment support (77.7%): solutions for on-line payment, solutions for placing share orders, paying for securities, managing retirement savings plans, etc.;
- financial management (16.6%): transaction and loan management solutions, data treatment, CRM, hosting solutions of online activities and outsourcing services for financial institutions (banks, leasing companies, real estate lending companies, etc.) and insurance companies;
- other (5.7%).
The United States account for 85% of net sales.