Retail Payments System Modernization

Retail payment systems—handling high-volume, lower-value transactions—are undergoing rapid, global transformation driven by technological innovation and consumer demand for faster, more convenient, and more secure services. This course provides a comprehensive guide to **Retail Payments System Modernization**, focusing on the shift to **Faster Payments (Instant Payments)**, the adoption of ISO 20022, and the policy challenges related to competition, access, and fraud. Participants will analyze the design and operational requirements of instant payment schemes, explore the role of the central bank in facilitating modernization, and evaluate the risks and opportunities presented by mobile, digital wallet, and open banking models.