IS430

Undergraduate

A payment is a transfer of monetary value. Under the hood of payment transactions are the products, the companies, the legal framework, the technology, and the financial institutions we rely on to facilitate the timely and uninterrupted exchange of value from one entity to another. In times of crisis, the importance of having a robust, efficient, and secure national and even global payment systems that market participants can rely on is even more pronounced.

A payment system (legal definition) is an arrangement which supports the transfer of value in fulfilment of a monetary obligation. Simply put, a payment system consists of the mechanisms - including the institutions, people, rules and technologies - that make the exchange of monetary value possible.

This course “Digital Payments & innovations” takes an overall look at the payment landscape viewing consumer, business and wholesale payments. It presents a depiction of the changing environment and delineates the dynamic payment ecosystem, helping us understand the possibilities as well as the limits to change. It covers payments for individuals, organizations and banks, and all of their possible permutations.

The course is aimed at students who are interested in both domestic’ and cross border payment systems, particularly those who aspire to; a) work in a bank’s T&O (technology and operations) as an architect, business analyst or project manager, or b) work in a non-bank FinTech provider of alternative payment services.

Business Innovation, Business Requirements Mapping, Design Thinking Practice, IT Standards

Disciplinary Knowledge, Multidisciplinary Knowledge, Interdisciplinary Knowledge, Critical thinking & problem solving, Innovation and enterprising skills, Collaboration and leadership, Communication, Self-directed learning