Certified International Payment Systems Professional

Certified International Payment Systems Professional

MVLCO offers a four full day’s comprehensive CIPSP certification program extensively focused on International Payment Systems. The course covers important payments systems in countries i.e. USA, Europe (SEPA), Canada, Hong Kong, China and India with detailed understanding of each of the payment systems including RTGS, Hybrid Systems and Card/Mobile Payment Systems.
 The CIPSP program emphasizes on active participation from delegates and includes exercises and case studies.

Delivery mode: Classroom/virtual classroom/online

Duration: Four full days

Course level: Foundation level

Delivery mode: Live Classroom, Virtual Classroom, Blended

What will you learn?

When you complete CIPSP, you will have understanding of : 

  • What are payment and settlement systems?
  • What are the risks in payment systems?
  • How paper based payment systems operate?
  • How electronic payment systems operate?
  • How mobile and card payments are made?
  • How international payments are made?
  • SWIFT and other messaging systems for payments

Course Content:

Introduction

  • Broad objectives of Payment system and components of payment system
  • Three key elements : Message, Clearing/Netting and Settlement
  • Paper to electronic payments – check truncation/conversion, Check 21, Remote deposit capture
  • Payment processing
  • Paper to paper
  • Paper to electronic
  • Electronic to electronic
  • Electronic to paper – Cheque Processing service
  • Card and mobile payments
  • Mobile payments

Why does a bank make payments

  • Own account transactions including position maintenance and cover operations
  • Customer transactions

Risks in Payment Systems :

  • Herstatt risk, Credit Risk,
  • Liquidity Risk,
  • Systemic Risk
  • Operational Risk.

Risk mitigation techniques

  • Carefully chosen members
  • Novation, Central counterparty system
  • Loss sharing arrangements,
  • Collateral
  • Other mitigation techniques

Relationship structures

  • Correspondent banking
  • Bilateral clearing arrangements
  • Network managed banking

Payment types

  • Book payments
  • Local payments
  • Domestic payments
  • Cross border payments,

Payments systems

  • Real Time Gross Settlement (RTGS),
  • Real Time Net Settlement (Canadian LVTS)
  • Net Settlement,
  • Hybrid settlement,
  • Continuous Linked Settlement (CLS)

Regional payments systems

  • USA payment systems : Fedwire, CHIPS, NSS, ACH
  • SEPA payment systems : TARGET2, STEP 2 (SCT/SDD)
  • China payment system : China Domestic Foreign Currency Payment System 
  • Hong Kong payment system : CHATS
  • Canadian payment system : LVTS
  • Indian payment systems : RTGS, NEFT

SWIFT messaging: MT and MX messages

  • Role of SWIFT in payment systems
  • SWIFTnet Fin, File act, Interact, Browse
  • SWIFT payment message processing – MT 1XX, MT 2XX, MT 9XX, MX PAIN/PACS
  • SWIFT Payment Messages examples
  • SWIFT for corporate

Straight through processing

  • Codes – IBAN, BBAN, BIC, BEI, UID, UPIC, ABA routing codes etc.
  • Single and bulk payment instruction processing
  • Processing by payment engines

Card and mobile payments

  • Card products types’ viz. credit, debit, charge etc.
  • Players in card system – Issuer, Acquirer, Interconnect, Processors, Partner networks
  • Services provided by interconnect (including STIP)
  • Functions of EFT, HSM and other devices
  • Card present/card not present transactions
  • Introduction to ISO 8583 message formats
  • Authentication, Authorization and Accounting
  • Switch operations and card transaction process
  • Interconnect transactions and settlement process
  • Presentment, re-presentment and chargeback’s 

Foreign exchange transactions

  • Cash, TOM, Spot, Forwards
  • Interbank transactions
  • Merchant transactions
  • Exchange rate determination and rate computation

Cash management products

  • Concept of float
  • Cash concentration, notional pooling and sweep
  • Virtual account management (VAM)
  • ACH filter/ACH block
  • Lockboxes

Impact of regulation

  • Basel Committee on Systemically Important Payment and Settlement Systems
  • FATF/OFAC compliance
  • Wolfsberg Group compliances
  • FATCA compliance
  • AML compliance

Certified International Payment Systems Professional

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