FA596 Digital Payment Technologies and Trends
Course Catalog Description
This course introduces students to the up-to-date payment systems and innovative financial technologies (FinTech) in the payment systems.
Common payment systems such as checking, ACH, cards, cash, wire transfer are discussed. Students learn the mechanisms of FinTech innovations,
including the Non-Fungible Tokens (NFTs). Students also learn how to set up digital wallets and interact with the blockchain.
Prerequisite: FA 591 and [FE520 Python, or FE515 R, or FE516 Matlab], or instructor permission
||firstname.lastname@example.org||Kidde 219 C|
This course prepares student in familiarizing them with the up-to-date digital payment systems both domestic and cross border. Students learn hands-on skills of using blockchain technology as an innovative form of digital payments. Students also learn the mechanisms of recent FinTech innovations, including Smart Contracts and Non-Fungible Tokens (NFTs). The course also trains students' blockchain coding skills, including interpreting and writing smart contract codes.
- Evaluate the common payment systems both domestic and cross border.
- Analyze topics in cryptocurrencies and blockchain technologies.
- Create digital wallets and interact with blockchain.
- Apply the innovations in digital payment systems.
- Assess misconceptions about payment systems and misuses of cryptocurrencies.
- Benson, Carol Coye, Scott Loftesness, and Russ Jones. "Payments Systems in the US A Guide for the Payments Professional." (2017).
- Chishti, Susanne, Tony Craddock, Robert Courtneidge, and Markos Zachariadis, eds. The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs, and FinTech Visionaries. John Wiley & Sons, 2020.
|Attendance & Participation||10%|
|1||Introduction to digital payment systems
Time value of money
Risk and return
Discount rates and WACC
Introductory empirical asset pricing
|Instructor's Materials||HW1 due|
|4||Payment systems overview||Book  - Chapter 2|
|5||Core Systems: Checking
Core Systems: ACH
|Book  - Chapter 3
Book  - Chapter 4
|6||Core Systems: CARDS||Book  - Chapter 5||HW2 due|
|7||Core Systems: CASH
Core Systems: WIRE TRANSFER
|Book  - Chapter 6
Book  - Chapter 7
|8||An overview of P2P payment networks: Apple Cash, Zelle, Google Pay, Cash App, and Venmo
Payment Evolutions and PAYTECH Introduction
Book  - Chapter 1 and 2
|9||Cryptocurrencies and blockchain technologies: Review||Book  - Chapter 4|
|10||Setting up digital wallets||Instructor's Materials and Students Practice in Class||HW3 due|
|11||Interacting with blockchain||Instructor's Materials and Students Practice in Class|
|12||NFT creation and transacting on blockchain||Instructor's Materials and Students Practice in Class|
|13||Payment Systems Regulations and Compliance||Book  - Chapter 3 and 4||HW4 due|
|14||Blueprint for Change||Book  - Chapter 6|