Introduction to Electronic Banking and Payment Channels

Learn why understanding U.S. payment channels is essential for managing cash flow, reducing risk, ensuring compliance, and driving innovation. This class with the Payments Professor explores how different payment methods impact operations, costs, and customer satisfaction—helping you make smarter, faster, and more secure decisions in today’s evolving payments landscape.

In this class, the Payments Professor breaks down the structure, purpose, and importance of payment networks—the rails that make money move. You’ll explore the differences between open vs. closed networks and private vs. public systems, learning how each impacts access, interoperability, innovation, and control.

Through real-world examples like ACH, FedNow®, RTP®, Visa®, PayPal®;, and American Express®, you’ll see how various networks function and why it matters. You’ll also examine how private networks drive competition and innovation, while public networks promote stability and accessibility.

By the end, you’ll have a clear understanding of how payment networks shape today’s financial ecosystem—and how to navigate them confidently.

In this class, the Payments Professor will guide you through the essential foundations of the U.S. electronic payments ecosystem. You'll explore how payment networks operate, the transition from paper to digital payments, and the key players involved in facilitating fast, secure, and efficient money movement.

You'll learn how various payment networks operate, including ACH, card networks, wire transfer systems, and real-time payment systems such as RTP and FedNow. Each network has unique features, costs, settlement speeds, and use cases—and this course will help you understand which is best for specific business or financial needs.

Through clear explanations, real-world examples, and practical comparisons, you'll gain insight into critical payment terms, clearing and settlement processes, and how to evaluate payment options based on speed, cost, risk, and functionality.

In this class, the Payments Professor breaks down and provides an introduction to the complex world of electronic payment regulations in the U.S. You’ll learn how different rules apply to different payment networks—ACH, cards, wires, RTP®, and FedNow®—and why it’s critical to understand these distinctions.

From consumer protection under Regulation E to the anti-money laundering requirements of BSA/AML, this course examines the major federal laws and agencies—including the Federal Reserve, OCC, CFPB, FinCEN, and state regulators—that govern the handling of payments. You’ll also discover how regulatory efforts aim to protect data, prevent fraud, and maintain the integrity of the financial system.

Real-world examples bring key concepts, such as clearing and settlement, system risk, and compliance challenges, to life. You'll also look ahead to future regulatory considerations driven by innovations like instant payments, blockchain, and embedded finance.

Whether you work in compliance, operations, fintech, or banking, this class equips you with a foundational understanding of how U.S. electronic payment systems are governed—and how to stay compliant in a rapidly evolving landscape.

In this class with the Payments Professor, you’ll dive into the foundational role of cash as a U.S. payment network. From its physical characteristics and legal status to its vital function in financial inclusion, you’ll explore how cash supports the unbanked, enables small transactions, and remains essential in emergencies—even as digital payments rise. Learn about the costs, risks, and security measures businesses and financial institutions face when managing cash, as well as the evolving technologies—like smart safes and cash recyclers—shaping its future. You’ll also examine how regulatory requirements like BSA/AML apply to cash, and why, despite declining usage, cash isn’t disappearing anytime soon.

In this engaging Payments Professor class, you'll learn all about checks—one of the oldest yet still critical payment networks in the U.S. We’ll cover what checks are, how they work, the different types (personal, business, cashier’s, certified, and more), and dive into the check clearing process. You’ll explore key players like the Federal Reserve and The Clearing House, and how legislation like Check 21 revolutionized processing through imaging and remote deposit. We’ll also examine the risks associated with checks—such as fraud, bounced payments, and delays—and explore tools like Positive Pay and check security features that help prevent loss. Despite declining usage, checks remain vital in many business and bill payment scenarios. Whether you’re studying for the NCP exam or just need to “check” your understanding, this class delivers everything you need to know—paper to pixels.

In this class with the Payments Professor, you’ll explore how card payments work from swipe to settlement. Learn the roles of issuers, acquirers, and networks like Visa and Mastercard, and understand the difference between credit, debit, prepaid, and charge cards. We’ll break down the transaction flow, fees (like interchange and MDR), card-present vs. card-not-present risks, and the critical role of PCI DSS compliance. You'll also examine how emerging technologies—such as contactless payments, mobile wallets, biometrics, tokenization, and embedded finance—are shaping the future of cards. Whether you're in banking, treasury, or just curious, this class will give you the swipe-smart insight you need.

In this engaging class with the Payments Professor, you'll learn everything you need to know about ACH—the Automated Clearing House network. From how it processes payments in batches to the key players, including originators, ODFIs, RDFIs, and ACH operators, you’ll see how this backbone of U.S. payments works. We’ll explore the difference between debits and credits, dive into Standard Entry Class (SEC) codes, and see how ACH supports payroll, bill pay, and government benefits. You'll also learn about risk management, fraud prevention, and Same Day ACH—including how it’s accelerating payments with multiple processing windows. Additionally, we’ll break down the compliance requirements and explain how Nacha governs the rules. Whether you’re new to ACH or brushing up, this class shows why ACH isn’t going anywhere—and why it’s vital to modern payments.

In this class, you’ll get a fast, fun, and insightful crash course on the FedNow® Service—America’s new instant payment rail from the Federal Reserve. You’ll learn how it works, who’s involved, and what makes it different from RTP®. From sender to settlement, we’ll walk through a FedNow® transaction step-by-step, explore key features like irrevocability and real-time clearing, and break down exciting use cases—from instant payroll to request-for-payment-enabled bill pay. You’ll also discover how FedNow® benefits financial institutions, businesses, and consumers alike, while addressing technology requirements, compliance considerations, and liquidity needs. Whether you’re a banker, treasury pro, or just payments-curious, this session equips you with the knowledge to understand—and even begin to implement—FedNow® with confidence.

In this class with the Payments Professor, you’ll dive deep into the RTP® Network—the first instant payment system in the U.S., operated by The Clearing House. You'll learn how RTP® enables 24/7/365 credit push payments with real-time settlement, immediate funds availability, and rich ISO® 20022 messaging. The course covers how transactions flow through the network, the roles of senders and financial institutions, and how Request for Payment transforms bill pay and cash flow management. You’ll explore real-world use cases for consumers, businesses, and financial institutions, as well as key implementation considerations, including tech upgrades, risk controls, and compliance. Whether you're a bank, business, or simply payment-curious, this course provides the knowledge you need to navigate and leverage RTP.

In this class with the Payments Professor, you'll explore wire transfers as a key payment network in the U.S. Discover how Fedwire® and CHIPS® power high-value, time-sensitive domestic and international payments. You'll learn the full wire process—from sender to settlement—along with the required information, risk controls, fraud concerns, and evolving standards like ISO® 20022. The course covers the differences between Fedwire® and CHIPS®, security and compliance obligations (including AML and OFAC), and how wire transfers compare to modern instant payment options like RTP® and FedNow®. Whether you're new to wires or brushing up, you'll leave wired with knowledge.

In this engaging class, the Payments Professor breaks down what alternative payments (APMs) really are and why they matter more than ever. You’ll learn how APMs differ from traditional methods like cash, cards, and checks—and explore popular options like digital wallets (Apple Pay®, PayPal®, Venmo®), Buy Now, Pay Later services (Klarna®, Afterpay®), account-to-account transfers (Zelle®, RTP®, FedNow®), and even cryptocurrencies like Bitcoin and Ethereum.

You'll discover how each type of alternative payment works, its benefits and risks, and what makes them attractive to consumers and businesses alike. From fast, low-cost A2A transfers to seamless mobile checkouts and decentralized crypto transactions, we cover how these tools are transforming commerce.

You’ll also explore the bigger picture—how APMs are impacting financial institutions, opening up new business models, and reshaping risk management strategies. We’ll conclude with a look at what’s ahead, including embedded finance, biometric security, regulatory shifts, and global payment innovation.

Whether you're in banking, fintech, or simply payment-curious, this course provides you with the practical knowledge to understand and engage with the future of alternative payments.

In this class with the Payments Professor, you’ll dive deep into how cryptocurrencies are reshaping the U.S. payment landscape. You’ll explore what makes cryptocurrencies tick—from blockchain technology to cryptographic security, wallets, mining, and keys. Learn how Bitcoin, altcoins, and stablecoins differ, and why stablecoins are gaining traction as payment rails. Understand how crypto offers faster, cheaper cross-border transactions and potential financial inclusion—but also faces volatility, regulatory uncertainty, and security risks. You'll also examine the evolving role of government agencies like the SEC, IRS, and FinCEN, and how future regulation will shape adoption. From payments to policy, this class covers it all.

In this session, the Payments Professor breaks down the fundamentals of stablecoins and why they matter in today’s evolving payment landscape. You’ll learn what stablecoins are, how they maintain a stable value, and the differences between dollar-backed, crypto-collateralized, and algorithmic models. We’ll explore why these digital assets are becoming important to financial institutions, how they move across blockchain networks, and where they fit in the broader world of U.S. payment channels. Whether you’re brand-new to crypto or just need a clear, practical refresher, this class gives you the foundation you need to understand the future of digital money

In the conclusion of the Payments Channels course, you’ll recap how the U.S. payment network operates across traditional methods, emerging technologies, and regulatory environments. From checks to crypto, ACH to RTP®, you’ll leave with practical knowledge you can apply immediately—and tools to continue learning, innovating, and navigating the future of payments.