Associate Professor of Technology and Operations, Michael R. and Mary Kay Hallman Fellow
The Future of Payment Technologies
What You'll Learn
- Explain how current payment systems operate.
- Describe inefficiencies in current practices in the processing of payments.
- Relate new technological innovations to current inefficiencies.
- Build value propositions for new technologies in the payment space.
3 Modules
6 Hours
2 hrs per module (approx.)
Rating
About The Future of Payment Technologies
Discover the future of payment technology, from mobile payments to tokenization.
In this course, you will learn new ways of making payments from consumer-to-business (C2B), from consumer-to-consumer (C2C), and from business-to-business (B2B).
You will explore current payment system technologies to examine their strengths and weaknesses, and understand the ways technological innovation is changing these traditional systems.
You’ll learn about new front-end innovations like digital wallets and mobile payments and also discover back-end innovations like tokenization, mobile money, and new payment infrastructure.
Skills You'll Gain
- Digital Currency
- Payments Industry
What You'll Earn
- Certificate of Completion:
- Certificates of completion acknowledge knowledge acquired upon completion of a non-credit course or program.
Welcome Message
Welcome to The Future of Payment Technologies, a course in the Financial Technology (FinTech) Innovations series. This course explores how technological innovation is transforming payment systems around the world. You will examine digital wallets, credit card innovations, and emerging payment infrastructures, while evaluating how front-end and back-end technologies are reshaping money movement, access, and financial ecosystems.
This abbreviated syllabus description was created with the help of AI tools and reviewed by staff. The full syllabus is available to those who enroll in the course.
Course Schedule
Module 1: Introduction and What is FinTech?
- Video: Fintech Innovations: Series Map and Learning Goals
- Video: Fintech Innovations: Series Introduction
- Reading: Course Syllabus
- Reading: Help Us Learn More About You!
- Reading: Learning from a Case
- Discussion Prompt: Introductions
Module 2: Digital Wallets
- Reading: Case Reading: The FinTech Island Story
- Video: Introduction to Fintech Innovations in the Payment Sector
- Video: The Checking System and the Importance of Financial Intermediation
- Video: Electronic Fund Transfers Using Automated Clearing House (ACH)
- Reading: Case Reading: Let the Adventure Begin!
- Video: Pure Digital Wallets
- Video: From Pure Wallet to Payment Ecosystem
- Video: Social-Network-Based Payment Innovations
- Discussion Prompt: Case Activity: What's Happening in Payment Technologies?
- Graded: Case Discussion Participation
- Graded: End of Module Quiz
Module 3: Credit Card Innovations
- Reading: Case Reading: FinTech Island Continued
- Video: Origin of the Credit Card network
- Video: Credit Card Network: Key Stakeholders and Business Models
- Video: The credit card network: advantages and inefficiencies
- Reading: Case Reading: FinTech Island Continued
- Video: Innovations that Make Credit Card Transactions More Secure
- Video: Innovations that Make Credit Card Transactions More Secure (con't)
- Video: Innovations that Expand Credit Cards’ Customer Base
- Discussion Prompt: Case Activity: FinTech Island Credit Card Network
- Graded: Case Discussion Participation
- Graded: End of Module Quiz
Module 4: Payment Technology in Emerging Markets
- Reading: Case Reading: FinTech Island Wrap-Up
- Video: M-Pesa: PayTech in Developing Markets
- Video: M-Pesa: Business Model
- Video: M-Pesa: Business Model Continued
- Video: PayTech in India
- Discussion Prompt: Case Activity: FinTech Island
- Graded Assignment: Case Discussion Participation
- Graded Assignment: End of Module Quiz
Grading Policy
Learners are assessed through quizzes and participation in case-based discussions. To pass the course, learners must complete all required assessments. There are three quizzes, each worth 30% of your final grade, and discussion participation that is worth 10% of your final grade.
Course content developed by U-M faculty and managed by the university. Faculty titles and affiliations are updated periodically.
Beginner Level
No prior experience required
