Course Objective

At the training you will have the opportunity to explore all the critical issues and challenges in the payments industry. You will review how the older card payments fit into the newer innovations such as mobile banking, wallets and faster payments and examine how cards fit into these developments. You'll also gain an understanding of the operational challenges, regulations and types of fraud.

Who Should Attend

Senior managers needing a big picture refresher and professional advisors and suppliers.

Course Overview
Essentials of The Payments Industry

Big Picture Introduction, Speed Networking. Historical development

Main stakeholders

What do they do?. Who are their customers? How do they make their money?

Review how older card payments fit into newer innovations (mobile banking, wallets, faster payments) and look at the key player

Economics of payments

Where is the money made and who charges what?

Assess bank card acquirers and issuers, card schemes, processors, PSPs, mobile providers, social media providers, etc. A retailer’s point of view. Clearing systems

Emerging markets in payment

Emerging markets and their potential. Markets – Stagnation or growth?

New markets: geography, new sectors and cash users

Drivers that will develop the payments business

Future and innovation

Innovations: their impact and potential. Where are we now?

New technologies: pre-paid, mobile technologies, mobile banking, mobile payments, mobile terminals, mobile remittances and money transfer, wallets

Social media. Faster payments. Unbanked technologies

What are the barriers to these new technologies?

Will completion drive down fee rates or will the expansion of electronic payment transactions overcome these price pressures?

Making Sense of Payment Options

Project appraisal. Examine a target market. Factors to consider in new projects

How do you select the best product to suit your customers?

Is the product a strategic fit with the bank’s current policies, other products and future directions?
Mobile – will the phone replace the cards, terminals, bank transfers etc?

Mobile banking, mobile payments, mobile terminals, mobile bill to account

Current and future developments, The main users and providers

Challenges to mobile payments. Infrastructure, certifications

New types of cards, dual application, prepaid and NFC

How do these products fit into the payment world?

Advantages. Challenges Opportunities

Wallets: Future of wallets. How are wallets changing and what do they bring to the payments world?

Google wallets, e-wallets, Yespay wallets. Challenges. Opportunities

Other emerging payment methods: Square and Facebook Credits

How they fit in with the traditional methods

Will they replace or displace these traditional methods?

What they do and how they do it. Threats and advantages

Unbanked payment methods

How can we address the underbanked section of the community?

What will replace remittances via the traditional money transfer services?

Newer banking technologies. Faster payments. RTGS. Net settlement

Fraud & Regulation. Types of fraud:-

Technologies and techniques to prevent fraud

Differences between fraud in the physical and the virtual world

How will fraud affect new payment methods like Facebook Credits?

What government, financial service agencies, card schemes, banks and retailers are doing to control this problem. How to prevent and manage fraud

Operational challenges

Specific challenges in the payments industry. Working with large bureaucratic organisations

Electronic payments have a worldwide focus and can be accepted anywhere.

Documentation/legal aspects

Processes and procedures. Contracts

What business and technical

interfaces must be in place?

Do you need: banking licenses, e-Money licenses, mobile licenses, FSA approvals, etc.?

Regulation

Review the ways in which the regulators affect projects and what involvement they must have.

Card schemes

PCIDSS

Financial services organisations.

Central banks

ISO.

EMVCo

Learning Goals

At end of the course you will be to:
Understand where the money is made and how to plan growth realistically in an era of change. Discover emerging markets and their potential and identify the drivers that will develop the payments business Learn how to select the best product to suit your customers and which factors to consider in any new project Discover how prepaid, NFC and dual application instruments fit into the payments world Analyse new payment methods such as Square, iZettle, Mpowa and Facebook credits and understand the threats and advantages they pose