Digital Payments Course

Lesson 1 • Participants in the Payments Ecosystem

Maps issuers, acquirers, networks, processors, and merchants. Understanding each role clarifies how value and data flow across a transaction.

Lesson 2 • Core Concepts and Terminology

Defines essential vocabulary: authorization, clearing, settlement, and float. Shared language enables precise communication throughout the course.

Lesson 3 • Types of Digital Payment Instruments

Surveys cards, bank transfers, e-wallets, and emerging instruments. Categorising instruments prepares students to analyse use cases in later chapters.

Lesson 1 • Card Network Architecture

Details the four-party model and how networks set interchange and rules. Connects network structure to the fee economics explored in later chapters.

Lesson 2 • Real-Time Payment Rails

Examines instant payment infrastructure, messaging standards, and liquidity management. Builds on interbank knowledge to address 24/7 settlement demands.

Lesson 3 • Interbank Transfer Systems

Covers batch ACH, wire, and real-time gross settlement rails. Students distinguish when each rail is appropriate based on speed and cost.

Lesson 4 • Payment Messaging and Standards

Introduces ISO 8583, ISO 20022, and proprietary message formats. Standardised messaging is the technical backbone of interoperability covered throughout the course.

Lesson 1 • Clearing and Settlement Processes

Explains how batched clearing files move from acquirer to network to issuer. Connects authorization outcomes to the financial settlement that completes a transaction.

Lesson 2 • EMV Chip and Contactless Technology

Covers chip cryptography, contactless protocols, and offline data authentication. Provides the technical grounding needed to evaluate card security in later chapters.

Lesson 3 • Authorization Flow and Approval Logic

Steps through the real-time authorization request and response cycle. Establishes the technical baseline for understanding declines and fraud controls.

Lesson 4 • Chargebacks and Dispute Resolution

Maps the chargeback lifecycle, reason codes, and representment strategies. Dispute management directly impacts merchant revenue and issuer operations.

Lesson 1 • Super-App and Embedded Wallet Models

Analyses wallets integrated into messaging, commerce, and social platforms. Embedded finance models represent the frontier of wallet distribution strategy.

Lesson 2 • Biometric and Multi-Factor Authentication

Covers fingerprint, face recognition, and behavioural biometrics for payment authorization. Strong authentication reduces fraud while maintaining low friction.

Lesson 3 • QR Code and Proximity Payments

Examines static and dynamic QR flows alongside NFC proximity payments. These modalities dominate emerging-market adoption and in-store digital payments.

Lesson 4 • Wallet Architecture and Credential Storage

Compares cloud-based, device-based, and hybrid credential storage models. Architecture choices determine security posture and user experience design.

Lesson 1 • Security Standards and Compliance

Covers card data security standards, scope reduction, and audit requirements. Compliance frameworks set the minimum security baseline for all payment participants.

Lesson 2 • Fraud Detection and Machine Learning

Introduces rule-based engines, supervised models, and real-time scoring for fraud. Machine learning elevates detection accuracy beyond static rule thresholds.

Lesson 3 • Encryption and Data Protection

Covers point-to-point encryption, TLS, and key management for payment data. Encryption is the foundational control that all other security layers depend on.

Lesson 4 • Threat Landscape in Digital Payments

Catalogues card fraud types, account takeover, and social engineering attacks. Knowing the threat landscape is the prerequisite for selecting effective controls.

Lesson 1 • Anti-Money Laundering in Payments

Covers customer due diligence, transaction monitoring, and suspicious activity reporting. AML obligations apply to every licensed payment service provider.

Lesson 2 • Licensing and Authorization Requirements

Surveys payment institution, e-money, and money transmitter licence categories. Licensing determines which activities a firm may legally conduct.

Lesson 3 • Sanctions Screening and Controls

Explains how payment firms screen transactions against restricted-party lists in real time. Sanctions failures carry severe penalties and reputational damage.

Lesson 4 • Open Banking and API Regulation

Examines mandated account access, third-party provider rules, and consent frameworks. Open banking regulation reshapes competitive dynamics in the payments market.

Lesson 1 • Product Roadmap and Prioritisation

Applies impact-effort scoring and OKRs to prioritise payment feature development. Structured prioritisation aligns engineering investment with strategic outcomes.

Lesson 2 • Pricing Models and Revenue Architecture

Compares interchange-plus, flat-rate, and subscription pricing for payment products. Pricing model selection determines competitive positioning and unit economics.

Lesson 3 • Partnership and Distribution Strategy

Analyses bank partnerships, platform embedding, and reseller channels for payment distribution. Distribution strategy determines market reach and customer acquisition cost.

Lesson 4 • Checkout Experience Optimisation

Covers one-click checkout, payment method display, and conversion rate optimisation. Checkout design is the highest-leverage UX investment for payment products.

Lesson 1 • Artificial Intelligence in Payments

Applies generative AI, NLP, and predictive analytics to payment operations and customer experience. AI accelerates fraud detection, reconciliation, and personalisation at scale.

Lesson 2 • Central Bank Digital Currencies

Examines retail and wholesale CBDC designs, distribution models, and policy implications. CBDCs represent a potential structural shift in how sovereign money circulates.

Lesson 3 • Embedded Finance and BaaS

Analyses banking-as-a-service models that embed payment capabilities into non-financial platforms. BaaS lowers barriers to payment product launch and expands distribution.

Lesson 4 • Blockchain and Distributed Ledger Payments

Covers permissioned and public blockchain settlement, stablecoins, and smart contract payments. Distributed ledger technology challenges traditional correspondent banking models.