Cards and Payments Course

Course Description:

This comprehensive course on "Cards and Payments" is designed to provide learners with a deep understanding of the payments ecosystem, focusing on payment cards and the associated infrastructure. The course covers fundamental concepts, key stakeholders, and the technology that enables seamless payment transactions. By the end of the course, participants will have a thorough grasp of payment systems, card types, processing mechanisms, and emerging trends in the industry.

Learning Objectives: On completion of this course, you should be able to:

• Explain the meaning of payments and its associated terms such as, issuing, acquiring, and authorization

• Identify the concepts, stakeholders, and networks related to payment cards.

• Describe the payment card infrastructure and the technology involved in it.

Course Content:

Module 1: Payments

· Introduction to Payments: Overview of payment systems and their importance in the financial ecosystem.

· Forms of Payments: Different types of payment methods including cash, checks, and electronic payments.

· Transaction Entities: Key entities involved in payment transactions.

· Traditional versus Emerging Payments: Comparison of conventional payment methods and new payment technologies.

· Issuing Overview: Prerequisite: Requirements for becoming an issuer.

· Issuing Overview: Responsibilities: Roles and responsibilities of issuers.

· Acquiring Sources: Overview of acquiring banks and their functions.

· On-us versus Not-on-us Transactions: Differences between internal and external transactions.

· Single versus Dual Message Transactions: Explanation of single and dual message transaction systems.

· Authorization: Process of authorizing payment transactions.

Module 2: Payment Card

· Payment Card Overview: Introduction to different types of payment cards.

· Prepaid Card: Features and uses of prepaid cards.

· Credit Card: Understanding credit cards and their functionality.

· Types of Credit Cards: Various types of credit cards available in the market.

· Card Services and Brand: Card services offered and brand differentiation.

· Stakeholders: Key stakeholders in the payment card industry.

· Networks: Payment networks and their importance.

Module 3: Payment Processing

· PCI SSC (Payment Card Industry Security Standards Council): Role and standards set by PCI SSC.

· Tokenization Flow: Process of tokenizing card information for security.

· Connectivity and Processing: Network connectivity and processing of payment transactions.

· Authorizations: Detailed process of transaction authorization.

· Transaction and Multiple Acquisition Architecture: Structure and architecture of transaction processing.

· Single vs. Dual Messages: Indepth analysis of single and dual message systems.

· DMS (Dual Message System) Transaction: Example: Example of a dual message system transaction.

· Clearing and Settlement Mechanism (CSM): Mechanism of clearing and settling transactions.

· XML and ISO 20022: Standards for payment message formats.

· Card Numbering: Structure and significance of card numbering.

· Mag-Stripe Bank Cards: Overview of magnetic stripe cards.

· EMV (Europay, Mastercard, and Visa) Cards and EMVCo: Introduction to EMV cards and the standards body.

· Contact Chip Cards: Features of contact chip cards.

· Near Field Communication (NFC) Cards: Functionality of NFCenabled cards.

· New Form Factors in Mobile Payment Solutions: Emerging mobile payment technologies.

· Host Card Emulation (HCE) Technology: Introduction to HCE technology.

· Card Acceptance Devices: Various devices used for card acceptance.

Message Formats and Communication: Communication protocols and message formats in payment processing.

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