How we handle money is changing and it is crucial to learn the alternatives of making payments in the future

Course 2: Payment's Stack: Industry Fundamentals is designed for you to recognize and differentiate various payment methods.

Learn the important payment business domains, the different industry actors and the fundamentals of the payments stack. Explore global payments standards and operations and understand how payment economics are changing.

This course is the second of six courses in the Payments in Digital Finance Specialisation, which is designed to help understand and articulate confidently about the different types of payment methods in the finance industry.


This course is co-created by:


Accreditations

In United Kingdom and Hungary

Senior Lecturer: Fred Bär

Meet the lecturer

Fred Bär is a partner in Payments Advisory Group, an international business consultancy specialized in payments. He has advised on PSD2-related topics, on Instant Payments developments in Europe and recently on the launch of the Vietnamese NAPAS ACH (with World Bank/IFC). He is the Secretary-General of the European Automated Clearing House Association, of which he is also a former President. Fred was Director at various payments processors (equensWorldline, EBA Clearing, Vocalink), a Board Member of International Giro Services, and a Board member of Interpay EGI, the first Dutch E-Money Institution. Prior to payments, Fred worked in the Telco-, Energy- and IT-industries. He is married, has four children and lives in the Netherlands.

Fred Bar

Senior Lecturer, Payments C2 & C6

Global Contributing Experts

Learning Outcomes:

  • Understand the choice of a payment instrument, the role of intermediaries for executing payments 'end-to-end'

  • Understand role of licensing and registration processes, how consumer protection is implemented in payments

  • Have basic knowledge of main card & payment schemes and overlay-services, and their global best-practices

  • Have high level knowledge of the different infrastructure layers: Client-Bank, Bank/Group internal, Interbank, Settlement, Cross-currency

  • Understand highlevel business/process architecture of a bank, a professional (corporate, or public) payment user, a payments processor; understand scope for STP increase and use of AI.

  • Cautious experiments in Opening up Market Infrastructure Access to non-financial players: opportunities and risks

Course Information

Course Curriculum

  • 01

    Course 2 of Payments in Digital Finance specialisation

    • Welcome to Payments Stack: Industry Fundamentals

    • Welcome from the Programme Directors!

    • A Message from Senior Lecturer - Fred!

    • Course Handbook | Introduction & Overview

    • Course Handbook | Glossary

    • Join Our Community at CFTE!
  • 02

    Chapter 1: Payment Business Domains Today

    • ━━ SENIOR LECTURER ━━

    • Course Handbook | Chapter 1

    • 1.1 Payment Accounts

    • 1.2 Payment Instruments and Types of Payment

    • 1.3 Payment Processing Flow

    • 1.4 Regulatory & Legal Frameworks

    • ━━ CHAPTER READINGS ━━

    • QUIZ

  • 03

    Chapter 2: Actors and Industry Structure

    • ━━ SENIOR LECTURER ━━

    • Course Handbook | Chapter 2

    • 2.1 Payment Account Provision

    • 2.2 Payment Schemes

    • 2.3 Card Schemes

    • 2.4 Infrastructures: A General View

    • 2.5 Collaboration and Competition

    • ━━ INDUSTRY EXPERT ━━

    • ━━ CHAPTER READINGS ━━

    • QUIZ
  • 04

    Chapter 3: Payment Methods

    • ━━ SENIOR LECTURER ━━

    • Course Handbook | Chapter 3

    • 3.1 Payment Contexts

    • 3.2 Categories for Analysing Payments

    • 3.3 Payment Overlay Services

    • 3.4 Instant Payments: A Global Trend

    • 3.5 Case Study: Instant Cross Border Currency

    • ━━ INDUSTRY EXPERT ━━

    • ━━ INDUSTRY EXPERT ━━

    • ━━ CHAPTER READINGS ━━

    • QUIZ
  • 05

    Chapter 4: Standards and Infrastructures

    • ━━ SENIOR LECTURER ━━

    • Course Handbook | Chapter 4

    • 4.1 Payment Standards

    • 4.2 Account-Related Standards

    • 4.3 Payment Message Standards

    • 4.4 Other Standards

    • 4.5 Infrastructures: Routing and Clearing

    • 4.6 Infrastructures: Settlement

    • ━━ INDUSTRY EXPERT ━━

    • ━━ CHAPTER READINGS ━━

    • QUIZ
  • 06

    Chapter 5: Payment Operations

    • ━━ SENIOR LECTURER ━━

    • Course Handbook | Chapter 5

    • 5.1 Operating Models for Payment Function

    • 5.2 Traditional Bank Operations Are Evolving

    • 5.3 Professional User Operations Are Evolving

    • 5.4 Issuing and Acquiring Operations

    • 5.5 Traditional Bank Operations Are Evolving

    • 5.6 Professional User Operations Are Evolving

    • ━━ INDUSTRY EXPERT ━━

    • ━━ CHAPTER READINGS ━━

    • QUIZ
  • 07

    Chapter 6: Key Revenue and Expense Elements in the Payment Industry

    • ━━ SENIOR LECTURER ━━

    • Course Handbook | Chapter 6

    • 6.1 Payments Economics in the P&L: Evolution and Revolution

    • 6.2 Payment Economics: Revenues

    • 6.3 Payment Economics: Cost Elements

    • 6.4 New Economics: Changes in Direction

    • ━━ INDUSTRY EXPERT ━━

    • ━━ CHAPTER READINGS ━━

    • QUIZ
  • 08

    Voice of Customer [VOC]

    • VOC Merchant Perspective: Gaston Aussems

    • Payments, from a Merchant's Point of View

    • VOC Treasurer Perspective: Francois Masquelier

    • Payments, from a Treasurer's Point of View
  • 09

    Course Conclusion & Final Assessment

    • Concluding Remarks from Fred!

    • Final Assessment
  • 10

    Congratulations!

    • Congratulations!

    • Post-survey

    • What's Next on the Payments in Digital Finance Specialisation

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