You will need to look into this at your server level. If you’re on a hosting account that is using old versions of PHP / OpenSSL then yeah, you’ll probably need to make an adjustment. That’s nothing that would need to be done in the plugin, though. It’s already coded to use the most recent version of TLS available on the server it’s running from. For more details you can see our post about this here. Most importantly…
If you want to use TLS 1.2 you’ll need to upgrade to OpenSSL 1.0.1 as a minimum, and then you’ll be able to set CURLOPT_SSLVERSION to 6 (TLS 1.2).
If you want TLS 1.2 to be used automatically during SSL requests, you’ll also need to upgrade to PHP 5.5.19+ (this is the ideal solution but many projects are still on older PHP versions).