This course focuses on the payment process ecosystem, lifecycle, regulation, security, fraud protection, and payment networks. The student will learn the products and services of the payments, fraud and risk reduction strategies, and roles & responsibilities of card issuers, acquirers, merchants, and strategies for maximizing card usage while minimizing loss associated with card use. The student will also learn about payments negotiations, risk management, customer relationships, principles of authorization, settlement, chargeback, and procedures, strategies, and best practices for acquiring merchants.
Upon successful completion of the course students will be able to:
Below are basic parameters for advisors to use when talking to potential FinTech students regarding appropriate prior knowledge, and to ensure that students can be successful. Students should have a strong foundation in very basic concepts from multiple areas listed below. Students should have an understanding of how all of these are impacted by technology and by the regulatory environment.
Good candidates for the FinTech courses should have a background in business, finance, information technology, cybersecurity, computer science, mathematics, data science, or another related field.
Students should be familiar with or exposed to the following competencies:
1. Create and explain the income statement, balance sheet, and statement of cash flows
2. Perform time value of money calculations
3. Value and describe stocks and bonds
4. Evaluate capital budgeting projects