Electronic Financial Transaction Processing

In today’s business environment, electronic transaction processing is a critically important function as consumers are increasingly turning towards this form of payment for improved convenience and safety.

Let us help you build, deploy and maintain processing systems to serve your business.

We process over 20,000 debit card transactions every day and clear half a million cheques a month as we continue to be at the forefront of the Electronic Transaction Processing industry.

In 1997, we built and launched the Barbados National Debit Switch and have managed its operation ever since. We also manage the Barbados Automated Clearing House where we process six million cheques a year under the direct supervision of the Barbados Central Bank. We are a strategic partner with the ability to efficiently, securely and reliably manage all your transaction processing needs.

Get all your Transaction Processing support and hardware from Prism.

We provide a complete solution from the front-end transaction terminals through to back office processing services.

With a wide range of terminal applications readily available including:

Fleet management

Inventory tracking

Loyalty management.

Our Clients

The Barbados National Debit Switch (CARIFs)

20,000 debit card transactions daily

Local switching between six commercial banks and two credit unions Regional and international switching

Settlement Adjustment Monitoring Tool

– Web-based monitoring

– Disputed item resolution & settlement

The Barbados Automated Clearing House (BACHSI)

Clearing a half million cheques each month

Cheque data shared between the six commercial banks and the Barbados Central Bank.

Daily inter-bank settlement through Real Time Gross Settlement (RTGS)

Resolution of inter-bank operational issues

Direct Payment Processing

– Premiums, Repayments & Instalments

– Same day remittance to beneficiaries

– Payroll Allocations

– Medical insurance reimbursements