I've heard some older Cantonese speakers I know (70s) use it quite frequently, but I am not exactly sure what it means.
Is it different than 係咩? They seem to be quite similar.
My friend said that it might be an influence from Mandarin.
係 (Cantonese) = 是 (Mandarin) = is/ yes
咩 is a colloquial Cantonese final particle that transforms statements into questions to indicate doubt or surprise.
係咩 is purely a colloquial Cantonese term
嗎 is a final interrogative particle, indicating the sentence is a question. It is used only in written form, not in colloquial form, therefore, "係嗎?" is not correct in either conversational or written form because 係 and 嗎 cannot coexist
Either use "係咩" (colloquial Cantonese) or "是這樣嗎". (written) for "it is?"
For "is it?", the colloquial Cantonese term is "係咪?" (contracted from 係唔係, which is the equivalent of 是不是 in Mandarin) and I suspect it is what you heard. Not "係嗎?"