Consumer Banking - Part 4 (2021)

Consumer Banking - Part 4 (2021)


This eCourse consists of two modules. Module 1 describes different payments systems and how fast payments are becoming available in various forms. Traditionally, retail banks controlled the transfer of payments between customers. However, with the arrival of the Internet and e-commerce, combined with regulatory initiatives to open the payments markets to nonbanks, the payment landscape is changing greatly. Further, technological advancements are allowing all participants to accelerate the clearing and settlement of payments, particularly with large payments where it is cost effective to do so.

Module 2 describes how Fintech solutions improved consumer experience as payments industry experiences a radical reshaping in terms of new technologies, modernised infrastructure, and new entrants.


On completion of this course, you will be able to:
- Recognise low- and large-value payment systems and their differences
- Interpret the different payment messages
- Define fast payments and list the benefits and range of services associated with fast payments
- Describe the clearing and settlement of fast payments
- List the different risks associated with fast payments
- Identify the difference between object-based and claim-based money
- Recognise the role of central bank money, namely cash and (potentially) central bank digital currency (CBDC)
- Identify the different forms of e-money, including stored-value facilities and prepaid cards, and their impact on the payments landscape
- Define other potential means of payment, including b-money (bank deposits), i-money (investment money), and cryptocurrency/stablecoin
- Recognise the role played by mobile money schemes and mobile/digital wallets in the development of payments


Module 1: Payments Systems
Topic 1: Payments Systems
Topic 2: Payments Messaging
Topic 3: Types of Payment
Topic 4: Fast Payments

Module 2: Digital Money & Mobile Payments
Topic 1: Means of Payment
Topic 2: Central Bank Money
Topic 3: E-Money
Topic 4: Other Means of Payment
Topic 5: Mobile Payments & Wallets


SFC:1.50, PWMA:1.50
All Member: HK$405
Staff of Corporate Member: HK$405
Non-Member: HK$585