How long does the training last?
1 full-day online or physical classroom to foresee for the 11 modules of the payments fundamentals course.
When is the next session?
One session is scheduled every month. But you can request specific sessions for your teams.
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The number of places is limited. Reservations are done on first come first served basis. Please check the availability first.
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Curriculum Payments Fundamentals Presentation
The payments fundamentals course contains 11 modules. Each module presents and explains key concepts to understand payments and the payments industry.
Curriculum Payments Fundamentals Objectives
The purpose of the payments fundamentals course is to provide you with the principles and keys to understand and study any payment system, anywhere in the world.
Grasp the basic concepts of payment systems (Payment systems models, 4-corner model, 3-corner model)
Understand the architectures of payment infrastructures around the world as well as the payments value chain and the main players involved
Easily explain the differences between domestic and international payments through a step-by-step presentation of the underlying concepts
Explain the economic models of payment systems from the perspective of the different systems (Cards, Crypto-currencies, Transfers)
COURSE CONTENT
Course Payments Fundamentals (11 modules)
- What is a payment?
- Payment instrument definition and classification
- Cash and non-Cash usages
- Payment systems definition
- Payment systems volumes
- End parties and their needs
- End parties quadrants in payments
- Assessment Quiz
- Introduction to payments systems models
- System modeling
- Types of payments systems models
- Open loop models
- Payments system(s) anatomy at country level
- Example Payments systems in France
- Closed loop models
- Example American Express
- Models for cryptocurrencies
- Example the Bitcoin
- Assessment Quiz
- From Open Loop Models to the Four corner Model
- The Four Corner Model
- Few examples of Four Corner Models
- Direct and Indirect participants to CSMs
- Direct participants
- Indirect participants with no direct access to clearing system
- Indirect participants with direct access to clearing system
- Participation directories
- Assessment Quiz
- What is Clearing?
- Bilateral clearing
- Multilateral clearing
- (Gross and Net) Settlement
- The two types of Net Settlements
- Main types of clearing and settlement systems
- Assessment Quiz
- Introduction and definitions
- Push payments and few examples
- Pull payments and few examples
- Summary – Push and Pull payments
- Assessment Quiz
- The Four Corner Model
- Customer-to-bank space and interbank space
- Why standards are needed for payment messages
- Payments Messages Standards (ISO 20022, SWIFT MT/MX, Local standards)
- Original transactions and Related-transactions
- Assessment Quiz
- Domestic payments
- Definition
- Intrabank payments
- Intra bankgroup payments
- Interbank payments
- International payments
- Domestic vs. Cross-border payments
- The six-party model for cross border payments
- Correspondent banking – Nostro, Vostro and Loro accounts
- SWIFT – The global secure messaging platform
- Assessment Quiz
- Value chain and Payment processing value chain
- Payment processing value chain (From a bank’s perspective)
- The Straight Through Processing (STP)
- Payment processing value chain analysis
- Payment acquisition and reporting
- Payment Order Management
- Payment Exchange
- Payment status reports
- Assessment Quiz
- Payments regulations
- Introduction
- Key regulatory goals
- Few examples of payment regulations and initiatives
- Subjects covered by private rules
- Risk and risk management in payments
- Definitions
- The main types of risks in payments
- Operational risks (Errors and Failures, Fraud risk, Data security risk, Business disruption risk)
- Legal risks (Compliance risk, Regulatory risk, Contractual risk)
- Financial risks (Credit risk, Liquidity / Settlement risk, Systemic risk)
- Assessment Quiz
- Economic models of Payments Systems and Payment Service Providers
- Economic models of Payments Systems
- Example of CSMs
- Example of Card schemes
- Example of cryptocurrency
- Economic models of Payment Service Providers
- PSPs Direct revenues
- Transactions fees
- Interest on associated loans
- Monthly maintenance fees
- Subscription fees
- Commission on turnover (CoT)
- Exception fees
- PSPs Indirect revenues
- Float
- Interchange
- Net interest income on deposit balances
- PSPs Direct revenues
- Assessment Quiz
- Payments is a dynamic industry with a bright future
- Overview of few main players in the payments industry
- Players that are part of the value chain
- Consumers and merchants
- Bank payment service providers
- Non-bank payment service providers
- Card schemes
- ACH schemes
- RTP schemes
- RTGS schemes
- Other players
- Technology vendors
- Business and IT Consulting companies
- Strategy and Advisory Consulting companies
- Players that are part of the value chain
- Assessment Quiz
- Overall over 150+ quiz questions and answers in the course
- Each module ends with an evaluation quiz of 10+ questions
- At the end of the course, you can take a 40-question assessment and earn a certificate
"I am passionate about payments and their history. I have more than 16 years of experience in the field, acquired by working on more than twenty projects in France and abroad. Blogger and author, I have written an acclaimed book on the SEPA credit transfer. It currently has a 4.8 out of 5 rating on amazon, and I recently join the Payments academy in London as Instructor."
Jean Paul MEGUE
Instructor
Who can take this course?
Payments professionals (Business Analyst, Consultant, Project Manager, Architect, Quality Engineer) beginners or experienced who want to master the basics of payments and payments systems
What are the prerequisites?
There is no prerequisite for this course