Certified International Payment Systems Professional (CIPSP)TM

CIPSP certification will help you in enhancing your skills in International Payment Systems. Duration: 4 full days. This course is conducted in live classroom mode at select locations.The program is also available globally in live virtual classroom mode. You can also purchase recorded classroom sessions. The recorded sessions expire after three months from date of installation.
₹ 18,400.00

MVLCO offers a four full days 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.

 

Program Fees (recorded classroom) (Terms and conditions apply):
Indian Participants
INR 16,000 plus 15% taxes
Certification fees include the tuition, full course material, on-line examination fees program and does not include
accommodation, transport and any other costs.

When you complete CIPSP, you will have complete understanding of :

  1.  What are payment and settlement systems ?
  2. What are the risks in payment systems ?
  3.  How paper based payment systems operate ?
  4.  How electronic payment systems operate ?
  5.  How mobile and card payments are made ?
  6.  How international payments are made ?
  7.  SWIFT and other messaging systems for payments
  8.  AML/CFT/FATCA regulation

Certification training is available in (a) live classroom mode (b) live virtual classroom mode and (c) recorded classroom mode.

 

Course contents

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 (US CHIPS and Canadian LVTS)

 Net Settlement,

 Hybrid settlement (STEP2)

 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, Fileact, Interact, Browse

 SWIFT payment message processing – MT 1XX, MT 2XX, MT 9XX, MX PAIN/

PACS

 SWIFT Payment Messages examples

 SWIFT for corporates

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, Authorisation and Accounting

 Switch operations and card transaction process

 Interconnect transactions and settlement process

 Presentment, re-presentment and chargebacks

 

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)

 Controlled disbursements, positivepay, reverse positivepay

 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

 

Course modules

Module 1                                                             : Basics of payment systems

Module 2                                                             : Risks in payment systems

Module 3                                             : Introduction to RTGS /Hybrid payment systems

Module 4                                                             : Introduction to SWIFT MT and MX messages

Module 5                                                             : Fedwire RTGS in USA

Module 6                                                             : CHIPS in USA

Module 7                                                             : ACH and NSS operations in USA

Module 8                                                             : Introduction to SEPA and TARGET2

Module 9                                                             : SEPA SCT and SEPA SDD

Module 10 : China FCDPS, CIPS and HKMA CHATS

Module 11 : Large Value Transfer System, Canada

Module 12 : Continuous Linked Settlement System

Module 13 : Card payment systems                        

Module 14 : Mobile payments

Module 15 : Cash management products

Module 16 : Anti‐money laundering and other regulation