The Future of Payment Technologies
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The Future of Payment Technologies
This course is part of Financial Technology (Fintech) Innovations Specialization
Instructor: Andrew Wu
67,864 already enrolled
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1,783 reviews
1,783 reviews
What you'll learn
Explain how current payment systems operate.
Describe inefficiencies in current practices in the processing of payments.
Relate new technological innovations to current inefficiencies.
Build value propositions for new technologies in the payment space.
Details to know
8 assignments
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There are 3 modules in this course
Discover the future of payment technology, from mobile payments to tokenization.
In this course, you will learn new ways of making payments from consumer-to-business (C2B), from consumer-to-consumer (C2C), and from business-to-business (B2B). You will explore current payment system technologies to examine their strengths and weaknesses, and understand the ways technological innovation is changing these traditional systems. You’ll learn about new front-end innovations like digital wallets and mobile payments and also discover back-end innovations like tokenization, mobile money, and new payment infrastructure.
Welcome to the first module of this course! In this module, you'll dive into the world of FinTech innovations and discover how digital wallets are revolutionizing the money transfer industry. This module explores legacy systems like check processing and advances to modern solutions like ACH and digital wallets, illuminating their impact on financial transactions.
What's included
6 videos5 readings3 assignments2 discussion prompts
6 videos•Total 46 minutes
- Introduction to Fintech Innovations in the Payment Sector•6 minutes
- The Checking System and the Importance of Financial Intermediation•7 minutes
- Electronic Fund Transfers Using Automated Clearing House (ACH)•10 minutes
- Pure Digital Wallets•8 minutes
- From Pure Wallet to Payment Ecosystem•8 minutes
- Social-Network-Based Payment Innovations•6 minutes
5 readings•Total 45 minutes
- Introduction to the Fintech Innovations Specialization•15 minutes
- Course Syllabus•5 minutes
- Pre-Course Survey•10 minutes
- Previewing the Future of Payment Technologies Case Study•5 minutes
- Case Reading: The FinTech Island Story•10 minutes
3 assignments•Total 40 minutes
- Practice Quiz: FinTech and Digital Wallets•10 minutes
- Case Study Quiz: What's Happening in Payment Technologies?•15 minutes
- Module 1: Quiz•15 minutes
2 discussion prompts•Total 25 minutes
- Introduce Yourself to Your Peers!•10 minutes
- Case Check-In: What Happening in Payment Technologies? •15 minutes
In this module, you'll explore the evolution of credit card technologies and their impact on modern payment systems. This module covers the origin of credit cards, the stakeholders involved, and the innovations addressing security and accessibility challenges.
What's included
7 videos2 readings3 assignments1 discussion prompt
7 videos•Total 47 minutes
- Origin of the Credit Card network•5 minutes
- Credit Card Network: Key Stakeholders and Business Models•10 minutes
- The Credit Card Network: Advantages and Inefficiencies•8 minutes
- Innovations that Make Credit Card Transactions More Secure, Part 1•5 minutes
- Innovations that Make Credit Card Transactions More Secure, Part 2•5 minutes
- Innovations that Make Credit Card Transactions More Secure, Part 3•6 minutes
- Innovations that Expand Credit Cards’ Customer Base•9 minutes
2 readings•Total 10 minutes
- Case Reading: FinTech Island Continued•5 minutes
- Case Reading: FinTech Island Continued•5 minutes
3 assignments•Total 40 minutes
- Practice Quiz: Credit Card Innovations•10 minutes
- Case Study Quiz: FinTech Island Credit Card Network•15 minutes
- Module 2: Quiz •15 minutes
1 discussion prompt•Total 15 minutes
- Case Check-In: FinTech Island Credit Card Network•15 minutes
You have now reached the final module of this course. In this module, you'll explore how emerging markets like Africa and India are pioneering payment innovations despite lacking extensive financial infrastructure. You'll also learn about groundbreaking systems such as M-Pesa and India’s UPI, uncovering the strategies that drive financial inclusion and rapid fintech adoption.
What's included
3 videos4 readings2 assignments1 discussion prompt
3 videos•Total 19 minutes
- M-Pesa: PayTech in Developing Markets•7 minutes
- M-Pesa: Business Model•5 minutes
- M-Pesa: Business Model Continued•6 minutes
4 readings•Total 45 minutes
- Case Reading: FinTech Island Wrap-Up•5 minutes
- Interviews: PayTech in India•20 minutes
- Post-Course Survey•10 minutes
- Keep Learning with Michigan Online•10 minutes
2 assignments•Total 45 minutes
- Case Study Quiz: FinTech Island•15 minutes
- Module 3: Quiz•30 minutes
1 discussion prompt•Total 15 minutes
- Case Check-In: FinTech Island•15 minutes
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Reviewed on Aug 31, 2020
This is really a good course on payment technologies which we are using in present and will help you to learn the things happen at back end. i would recommend all finance student to opt for it.
Reviewed on Jun 26, 2020
Really well-done instructions, charts and lectures. I wish there were an intermediate course that followed up to help those working on new payment apps think more creatively.
Reviewed on May 15, 2020
Great course! It gives a very good overview of the different payment systems, how it works, and its pros and cons. The quizzes are really good. I am thankful to the lecturer and the university!
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