Our first programme, which launched in October 2021, is the Certificate programme in Digital Payments. While payments has long been considered a minor part of banking, the digitalisation of financial services has pushed payments – and the rich data that flows with payments – to the forefront of financial services.
This course is for new entrants to the payments business and people with some experience in the retail or finance industry who need to understand the payments industry. It is developed for people working in banking, financial services, remittances, telcos and mobile money services, e-money services, cards businesses, card schemes and financial regulation.
The course is self-paced, so candidates can match the pace of study to suit their own schedules. The course takes between 60 to 80 hours to complete. The course is composed of 60 chapters, with a final quiz after completing all chapters. On successful completion of the course and quiz, the candidate is awarded the Certificate in Digital Payments from the Retail Banking Institute.
The new wave of payments is digital. It's no secret that investors are committing billions of dollars, euros, yen and pounds into new digital payments businesses. Why? Bank fees remain high in payment services ranging from remittances to cross-border SME payments, so payments has long been ripe for disruption. Banks have long dominated the payments industry, but the growth of ecommerce, big tech, fintech, and telcos means that there are many exciting new players and business models in payments. Digital payments and their associated data trails provide new services to consumers on the one hand and on the other hand are opening up new possibilities in terms of financial inclusion and even new credit-scoring systems.
Digital is the third wave of electronic payments. The first wave of electronic payments began in the 1850s with wire transfers, allowing banks to build their own network. From the 1950s, the card schemes introduced their own electronic payments networks with powerful centralised processing operations. Since 2000, we have the internet and mobile payment networks to add to bank payment and card payment networks. The Digital Payments course traces the history and progress of the payments industry right into the present day of cloud computing and machine learning to contactless payments, cryptocurrencies and central bank digital currencies.
Equip yourself with a comprehensive understanding of the direction of the modern digital payments industry.