E-Money and Mobile Payments (EMM)
This course, presented by the Monetary and Capital Markets Department, provides an in-depth exploration of e-money and mobile payments by examining their developments around the globe, pre-conditions, business model, platforms and technologies including NFC, Quick Response (QR) codes, and mobile wallets, benefits to the economy and risks, prudential regulations, and contingency planning. The course is designed to be interactive by using a combination of lectures, case studies/simulations, group or individual presentations, and panel discussions. The self-assessment exercises are based on targeted procedures and include use cases, elements, business models, risks, and regulations. Participants, after gaining a basic understanding of e-money and mobile payments, apply them to a hypothetical country case study to clarify/formulate an overall fintech payment strategy and action plan. After the hands-on self-assessment experience, results are discussed through group presentations and de-briefings.
Target Audience
Mid- to senior-level officials working in the payment, legal, technology, monetary policy, and financial stability departments at the central bank and in positions with similar responsibilities.
Qualifications
Participants should have experience in operations, policy, and/or oversight in one or more of the following areas: payments, legal, technology, monetary policy, and financial stability.
Course Objectives
Upon completion of this course, participants should be able to:
- Understand the fundamentals of e-money and mobile payments (definition and scope, characteristics, functionalities, etc.).
- Understand e-money and mobile payment system developments, platforms, business model, and risks.
- Investigate the oversight frameworks for e-money and mobile payments systems.
- Clarify and formulate an e-money and mobile payment strategy as well as an action plan.
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