Electronic Payment Systems Course

Lesson 1 • Key Stakeholders in the Payment Ecosystem

Maps the roles of issuers, acquirers, networks, and processors. Clarifies how each party earns revenue and bears risk.

Lesson 2 • Core Concepts and Terminology

Defines essential terms used throughout the field. Ensures precise communication across technical and business roles.

Lesson 3 • History and Evolution of Digital Payments

Traces payment systems from paper-based methods to real-time digital networks. Provides context for understanding why modern architectures are designed as they are.

Lesson 4 • Types of Electronic Payment Instruments

Surveys debit, credit, prepaid, and account-to-account instruments. Connects instrument characteristics to use-case suitability.

Lesson 1 • Network Topology and Infrastructure

Describes centralised, decentralised, and hybrid network models. Connects topology choices to reliability and latency requirements.

Lesson 2 • APIs and Connectivity Standards

Introduces REST and ISO 20022 APIs used to connect merchants and processors. Prepares students to evaluate integration options.

Lesson 3 • Authorisation and Routing Logic

Explains how transactions are routed to the correct issuer and how approval decisions are made. Links routing rules to cost and approval-rate optimisation.

Lesson 4 • Message Standards and Formats

Covers dominant messaging standards used in authorisation and settlement. Enables students to read and construct compliant payment messages.

Lesson 1 • Chargebacks and Dispute Resolution

Explains the chargeback lifecycle, reason codes, and representment strategies. Equips students to reduce dispute losses and win representments.

Lesson 2 • EMV Chip and Contactless Standards

Details EMV transaction flow, cryptogram generation, and offline capabilities. Explains how chip technology reduces counterfeit fraud.

Lesson 3 • Point-of-Sale Terminal Operations

Covers terminal hardware, software, and certification requirements. Connects terminal configuration to transaction success rates.

Lesson 4 • Card Data Structures and Encoding

Explains magnetic stripe tracks, chip data elements, and contactless payloads. Provides the data literacy needed to interpret transaction logs.

Lesson 1 • Digital Wallet Architecture

Describes server-side and device-side wallet models and their trade-offs. Connects architecture choices to user experience and security posture.

Lesson 2 • Tokenisation in Mobile Payments

Explains network tokenisation, token requestors, and token lifecycle management. Shows how tokenisation reduces credential exposure across channels.

Lesson 3 • In-App and In-Browser Payment Flows

Covers SDK integration, payment request APIs, and one-click checkout patterns. Links implementation choices to conversion rate outcomes.

Lesson 4 • QR Code and Proximity Payment Methods

Examines static and dynamic QR payment models and NFC proximity flows. Compares merchant-presented vs. consumer-presented modes.

Lesson 1 • Alias and Proxy Directory Services

Covers how phone numbers and email addresses map to account identifiers. Explains directory lookup, registration, and dispute processes.

Lesson 2 • Real-Time Payment Rail Fundamentals

Introduces 24/7 instant credit transfer infrastructure and its key design principles. Contrasts real-time rails with batch ACH and card networks.

Lesson 3 • Merchant and Consumer Use Cases

Applies real-time payment concepts to e-commerce, payroll, and gig-economy scenarios. Evaluates cost and experience advantages over card payments.

Lesson 4 • Request-to-Pay and Pull Payment Flows

Explains how payees initiate payment requests and how payers authorise them. Connects request-to-pay to invoice automation and subscription use cases.

Lesson 1 • Authentication and Strong Customer Authentication

Details multi-factor authentication frameworks and risk-based exemptions. Explains how authentication strength affects liability and approval rates.

Lesson 2 • Fraud Detection and Machine Learning

Introduces rule-based and model-driven fraud scoring applied at authorisation. Addresses model training, feature engineering, and false-positive management.

Lesson 3 • Incident Response for Payment Breaches

Outlines breach detection, containment, notification, and recovery steps specific to payment environments. Prepares students to lead or support a payment security incident.

Lesson 4 • Encryption and Key Management

Covers symmetric and asymmetric encryption applied to payment data in transit and at rest. Links key management practices to compliance and breach prevention.

Lesson 1 • Payment Data Security Standards

Covers the card industry data security standard requirements and assessment process. Connects control implementation to reduced breach liability.

Lesson 2 • Licensing and Regulatory Oversight

Surveys payment institution licensing categories and ongoing supervisory obligations. Helps students understand regulatory entry barriers and ongoing reporting duties.

Lesson 3 • Operational Risk and Business Continuity

Identifies operational risk categories in payment processing and mitigation strategies. Connects continuity planning to service-level commitments.

Lesson 4 • Anti-Money Laundering in Payments

Explains customer due diligence, transaction monitoring, and suspicious activity reporting for payment firms. Links AML controls to regulatory examination expectations.

Lesson 1 • Measuring and Optimising Payment Performance

Defines key payment metrics and optimisation levers for authorisation rates and costs. Equips students to build performance dashboards and drive continuous improvement.

Lesson 2 • Embedded Finance and Payments

Explores payment capabilities embedded in non-financial platforms and software. Analyses revenue-sharing models and integration complexity.

Lesson 3 • Cryptocurrency and Blockchain in Payments

Assesses blockchain-based payment rails, stablecoins, and central bank digital currencies. Compares settlement finality and cost profiles with traditional rails.

Lesson 4 • Open Banking and API Ecosystems

Examines open banking frameworks, third-party provider roles, and consent management. Evaluates how open APIs create new payment product opportunities.