Consumer Banking - Part 3

Consumer Banking - Part 3


This eCourse consists of two modules. Module 1 covers consumer payments, which is not just an important banking service and source of revenue in its own right – ownership of payments data is assuming increasing importance in terms of customer profiling. There has been a pronounced shift in the payments world toward electronic media at the expense of cash and checks. Meanwhile, the plastic card, for so long the dominant form of electronic payment medium, is seeing its functionality eclipsed by the rise and potential of the mobile device. This module describes and evaluates the characteristics of and outlook for the different forms of consumer payments, with particular focus on the dynamics of the card-based payments industry.

Module 2 describes advanced payment methods. Since the 1970s, the plastic payment card has dominated the world of electronic payments. The term “alternative payments” subsequently sprung up to refer to alternative payments methods to cards, such as bank transfers and direct debits. But with the arrival of the Internet and e-commerce, another term – “advanced payments” – has emerged to cover payments in a digital environment. This module describes these advanced payments methods such as prepaid, e-money, and mobile money. It also looks at how the previously unchallenged role of banks in the payments space has come under increasing pressure from nonbank providers of payment solutions.


On completion of this tutorial, you will be able to:
- Describe the main payments media, including cash, cards (debit/credit/prepaid), and the different types of e-money
- Explain the “four-party plus network” model that facilitates the vast majority of global electronic payment transactions and how enabling legislation and the advent of online/mobile payments has given rise to new models and value chains
- Outline the impact of regulatory developments on the payments industry
- Describe how the world of prepaid and e-money has provided the basis of a new wave of payment instruments
- Explain how mobile money has revolutionized the developing world and how the smartphone is delivering an extraordinary range of payments and banking services
- List the key players in the payments business today and the strategies they are adopting to remain competitive


Module 1: Consumer Payments - An Introduction
Topic 1: Payments Media
Topic 2: The Payments Value Chain
Topic 3: Regulatory Developments & the Future of Payments

Module 2: Advanced Payments Methods
Topic 1: Prepaid & E-Money
Topic 2: Mobile Money
Topic 3: Players & Strategies


SFC:2.0, PWMA:2.0
All Member: HK$520
Non-Member: HK$740
Staff of Corporate Member: HK$520