FT410
Innovating in Payments
Faculty
Michal Rozynek
Director of MPR Global (Fintech Consulting)
Course length
Duration
Total hours
Credits
Language
Course type
Fee for single course
Fee for degree students
Skills you’ll learn
Overview
Should your startup invest in Apple Pay or use Open Banking? What exactly are real-time payments, and what happens when you tap your Revolut card? Wherever you look, payments remain the key driver and area of innovation. The first fintech were payments companies. Many of these, like PayPal, have then become springboards for other startups. This is because payments touch almost everything.
This course will introduce you to the various types of payment ecosystems and payment types (bank, card, P2P) and provide you with both a historical and forward-looking view of trends affecting this fascinating industry. We will focus our attention on the key areas of opportunity for innovation in payments and help you understand how startups and corporate innovators can take advantage of these.
Learning highlights
- This course aims to enable students to understand payments as a key area of opportunity (and challenge!) for fintech.
- Students will understand the commercial, social and technological drivers of change in payments and discuss the benefits and costs of each payment type.
- We will focus a lot on the practical skills of building innovative business models, and the course will require students to think through applied scenarios.
Course outline
15 classes
Introduction to payments
Why study payments now? Course structure & key skills (industry analysis, understanding of value chain and customer pain points, innovation strategies in payments).
The role of payments
How do payments and the economy interact? Payments reflect the changing nature of money.
Industry overview
What do we mean by payments? What are the main payment systems, and how are they connected?
How bank payments work
An overview of the mechanics of bank payment services, bank payments ecosystem players and technology underpinning transactions.
How card payments work
An overview of the mechanics of card payment services, bank payments ecosystem players and technology underpinning transactions.
Payment alternatives
Emerging non-card and non-card payment systems.
How payment firms make money
What are the commercials of payment transactions? How do innovative players find value in the payments value chain?
Merchant perspective
How to choose a payment provider?
Startup perspective (fintech)
What to consider when launching your payment solutions?
What is driving change in payments
The role of the regulation (Open Banking, Fee cap), technology (blockchain, biometrics) and behavioural change (digitalisation) in transforming payment models.
Key areas of innovation - Loyalty
What are the key areas that provide opportunities for innovation? A deeper dive into loyalty, regulation and blockchain.
Key areas of innovation - Blockchain
What are the key areas that provide opportunities for innovation? A deeper dive into loyalty, regulation and blockchain.
Key areas of innovation - Open Banking
What are the key areas that provide opportunities for innovation? A deeper dive into loyalty, regulation and blockchain.
Open Banking Case Study
What are the key areas that provide opportunities for innovation? A deeper dive into loyalty, regulation and blockchain.
Final Presentations
Course materials
Books
Prerequisites
None. The course will be suitable for students from a range of backgrounds.
Methodology
The course will offer a combination of industry expert-led lectures, case studies and business scenarios. It will culminate with the students pitching their payments startup ideas.
Grading
Dr Michal Rozynek is a strategy and innovation consultant with an extensive understanding of payments and retail financial services gained from working with blue chips (Visa, Mastercard, Aviva, Barclays) as well as leading disruptors (Revolut) - all the way to early-stage start-ups. He holds a PhD in Politics from the University of Edinburgh as well as an MBA from the University of Oxford - having published on topics at the intersection of social change and technology. He is also a founder of his own growth strategy and innovation consulting company focused on fintech and payments.
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Innovating in Payments
by Michal Rozynek
Total hours
45 Hours
Dates
May 02 - May 20, 2022
Fee for single course
€1500
Fee for degree students
€750
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FAQ
Will I receive a certificate after completion?
Yes. Upon completion of the course, you will receive a certificate signed by the director of the program your course belonged to.
Do I need a visa?
This depends on your case. Please check with the Spanish or Thai consulate in your country of residence about visa requirements. We will do our part to provide you with the necessary documents, such as the Certificate of Enrollment.
Can I get a discount?
Yes. The easiest way to enroll in a course at a discounted price is to register for multiple courses. Registering for multiple courses will reduce the cost per individual course. Please ask the Admissions Office for more information about the other kinds of discounts we offer and what you can do to receive one.