Card Payment System

Overview:

Introduction:

Program Objectives:

At the end of this program, the participants will be able to:

• Familiarize themselves with various payment instruments and channels used in banking operations.

• Enhance their understanding of payment system architecture, including clearing and settlement mechanisms.

• Gain knowledge about the regulatory landscape governing payment transactions and compliance requirements.

• Develop skills to identify and mitigate payment-related risks and fraud.

• Apply practical insights and case studies for the effective implementation of payment solutions within banking operations.

Targeted Audience:

• Payment operations managers.

• Retail banking managers.

• Compliance officers.

• Risk management professionals.

• Customer service representatives.

• IT and technology specialists involved in payment systems.

Program Outline:

Unit 1:

Fundamentals of Payment Systems:

• Introduction to payment systems and their importance in banking.

• Overview of payment instruments: cash, checks, cards, electronic funds transfer (EFT).

• Understanding payment system participants: banks, customers, clearinghouses, regulators.

• Types of payment channels: branch, ATM, online banking, mobile banking.

Unit 2:

Payment System Infrastructure:

• Payment system architecture: roles of banks, payment processors, and intermediaries.

• Clearing and settlement processes in payment transactions.

• Interbank payment systems: Real-Time Gross Settlement (RTGS), Automated Clearing House (ACH).

• Cross-border payment systems and correspondent banking relationships.

Unit 3:

Regulatory Framework and Compliance:

• Overview of regulatory bodies governing payment systems (e.g., central banks, financial regulators).

• Payment system regulations and compliance requirements (e.g., PSD2, FATF recommendations).

• Anti-money laundering (AML) and Know Your Customer (KYC) regulations in payment transactions.

• Data protection and privacy laws relevant to payment processing.

Unit 4:

Payment Security and Fraud Prevention:

• Security measures in payment systems: encryption, tokenization, multi-factor authentication.

• Common types of payment fraud: are phishing, identity theft, card skimming.

• Fraud detection and prevention techniques.

• Case studies and best practices for mitigating payment fraud risks.

Unit 5:

Implementation and Innovation in Payment Solutions:

• Strategies for integrating new payment technologies into banking operations.

• Emerging trends in payment solutions: contactless payments, mobile wallets, blockchain-based payments.

• Customer experience considerations in payment solution implementation.

• Evaluating the impact of payment innovations on banking business models.