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Card Payment System T2470 QR Code
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Card Payment System

Overview:

Introduction:

A card payment system is a digital infrastructure enabling individuals and businesses to conduct transactions using debit, credit, or prepaid cards. It involves multiple components, including card issuers, payment networks, and acquiring banks, ensuring seamless authorization, processing, and settlement of payments. This training program is designed to equip banking professionals with comprehensive knowledge and skills regarding payment systems and processes. It offers insights into various payment methods, security measures, and regulatory frameworks governing payment transactions within the banking sector.

Program Objectives:

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

  • Gain insight into various payment instruments and channels used in banking operations.

  • Explore payment system architecture, including clearing and settlement mechanisms.

  • Identify the regulatory landscape governing payment transactions and compliance requirements.

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

  • Effectively implement 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: central banks, financial regulators.

  • Payment system regulations and compliance requirements: 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: phishing, identity theft, card skimming.

  • Fraud detection and prevention techniques.

  • Role of artificial intelligence and machine learning in detecting fraudulent activities.

  • Importance of compliance with global security standards like PCI DSS.

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.

  • Tools for evaluating the impact of payment innovations on banking business models.

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