Payment basics

Introduction to the payment environment

• Why is payment relevant in today's economic environment?
• Perspectives of the various players: How merchants, end customers, payment service providers (PSPs) and other players influence the payment process.

The 4-party model

• Structure of the four-party model, how it works and how the parties involved interact.
• The course of a typical transaction.

The reality of payment transactions

• Parties involved and their responsibilities: Distribution of roles in the payment process.
• Practical implementation of the payment process in business life from initiation to completion.

Importance of the payment mix

• Relevance of the payment mix: effects and evaluation of the "right" payment mix.
• Factors in the payment mix: success criteria for selecting the best payment methods.

Fees for payment transactions

• Types of fees in payment: risk-related and transaction-related cost factors.
• What fees apply where and why?

Reconciliation & Settlement

• Explanation of terms and differences and necessity of reconciliation and settlement.
• Reconciliation & settlement from the perspective of merchants, banks and payment service providers.

Acceptance channels in payment transactions

• Various acceptance channels: Online, point-of-sale (POS) and mobile payments.
• Differentiation of channels according to function and use.
• Relevance of the omni-channel approach in payment transactions.

Regulation, compliance and licenses

• Importance of compliance in payment transactions: Regulated participants, regulations and their role in payment transactions.
• Types of licenses and certifications.
• Regulated vs. unregulated payment service providers.