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Session 1: The Digital Customer Which Payment Methods to Offer?

Debit and credit cards, bank transfers, Bitcoin? Visa, Alipay, Apple Pay? Payment via mobile, wearable, desktop PC? Does your market have the necessary technology, service and regulatory infrastructure for you to offer advanced digital payments? Examine key considerations to arrive at the best set of payment choices to offer.

• How to determine the available payment acceptance options in your market:
  - Form factors
Cards, mobile devices (smartphones, tablets, wearables, feature phones)
  - The customer interface
Digital wallets, social media, mobile apps, browsers, USSD (Unstructured Supplementary Service Data),
  - Transaction capture
NFC, chip, QR codes, voice assistants
  - Service delivery channels
Face-to-face, online, O2O (online-to-offline), call centre
  - Funding methods
Bank accounts, credit or stored value accounts, digital or physical cash
  - Support ecosystem
Network services (broadband, wireless), payment services (schemes/brands, switches, clearing houses), 
    technology providers and regulatory environment
• How to determine the right payment options to offer your customers:
  - Knowing who your customers are and their concerns and preferences in payments
  - Financial inclusion levels
Banked, unbanked, or both?
  - Availability, affordability and usage of consumer technologies
Smartphones, wearables, etc.

Team exercise: Evaluate your market's readiness to support your organisation in offering digital payments:
• Which payment options are realistically available for you to offer?
• Which ones can be expected in the near future?

Team exercise: Analyse and understand your customer base:
• Who are your customers and what do they care about when it comes to payments?
• Demographics, trends, attitudes and pain points
• What are your competitors doing for their customers?
• With all this in mind, what specific payment options will you offer your customers?


Session 2: Building your Payments Platform in the Era of Next-Gen Payments

With e-commerce, social media giants (Alipay, Apple, Amazon, WeChat), and fintech startups redefining the payments landscape, how will payment services work in this new environment and how should they work with other core business processes? Understand the interfaces of next-generation payments platforms, how they all fit together and how to build your payments platform.

• Designing your organisation's payments platform:
  - Your digital business model (with reference to successful platforms such as Alipay, WeChat, Apple, Amazon and others in addition to
     legacy platforms)
  - Where do payments fit in your customer journey? The evolution to contextual payments
  - The payments supply chain and technology stack – Front end, back end, connectivity to external partners, multichannel vs.
  - Authentication processes to balance CX (customer experience) and security with minimum friction

Team exercise: Using templates provided by the workshop leader, design a basic (high-level) consumer payments platform for your organisation following a strategy derived from the Session 1 exercise results. Outputs include:
• Your portfolio of selected payment options
• Diagram of your transaction ecosystem/supply chain
• Diagram of your platform technology stack (consumer front end and server back end)
• Articulation of your payment processing cost and revenue model


Session 3: Managing Payments Operations – Enhancing CX & Omni-channel Service

Beyond originating transactions and receiving funds, gain an in-depth understanding of the key processes involved in both "normal" payment transactions and exceptions. Understand chargebacks, customer account management and service function with an emphasis on true omni-channel service capability and positive CX.

• The customer payments lifecycle – Onboarding, adding payment methods, funding (for stored value accounts), profile management, customer service
• The two "musts" for providing omni-channel payment services – A single customer view and lifelong customer relationship management
• Initiating transactions – Payment method selection and checkout
• Exception handling – Dealing with commercial disputes, chargebacks, fraudulent transactions
• Causes of positive or negative CX – Considerations to minimise shopping cart abandonment, transaction exceptions, and unnecessary contact with the call center

Team exercise: Design a set of core processes from among those explained with the objective of maximising profitability from your payments operations – especially keeping costs, lost sales and customer attrition resulting from friction and unnecessary exceptions to a minimum.


Session 4: Securing Payments – Managing Risks, Ensuring Compliance, Building Trust

AML (anti-money laundering), KYC (know-your-customer), consumer privacy and data breach laws—Which ones do your organisation need to comply with? What about PCI DSS and other industry standards? What are the key fraud and cyber security threats against payment services, and how can you defend against them? Get an in-depth understanding of critical compliance, risk management and security considerations for accepting digital payments.

• Ensuring compliance with:
  - Laws and regulations – AML/KYC rules, PDPO (Hong Kong), PDPA (Singapore) and others
  - Industry standards – PCI DSS, ISO 27000, SSAE 16 (formerly SAS 70), FIDO authentication and others
• Securing transactions and building customer trust:
  - Cyber fraud and identity theft – Phishing, social engineering, new account fraud, account takeover fraud, unlimited operations, and
    other security threats
  - Assessing and mitigating risk in the payments ecosystem
  - Key security processes – Authentication, authorisation, transaction monitoring
  - Key security technologies – NFC (near-field communication), HCE (host card emulation), TEE (trusted execution environment) and

Team exercise: Design a risk management and security program for your payments operation:
• Assess threats and vulnerabilities for the payments platform you developed in Session 2
• Articulate a risk management strategy emphasising layered controls including technical, business process and governance controls.

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