Electronic Payments 101: Instruments and Processes

The most active discussion threads among members on the AFP list-serves are about payment issues and its no wonder given the rapid development and adoption of electronic alternatives for disbursing and collecting payments. To make the right choices to improve your company's processes and ultimately the balance sheet, you need to have a solid understanding what the options are, how they work and how they are used.

This fast-paced, instructor-led course is designed to provide a nuts and bolts understanding of ACH, wire, and card payment instruments and the process from origination to settlement. Topics will cover the most popular domestic and cross-border payments options for business-to-business and business-to-consumer applications from the corporate treasury management perspective. Whether you are truly a payments novice or just need to get up-to-speed on the current payments environment, this seminar offers high-level value.

• Use basic concepts and terminology related to electronic payment collections and disbursements
• Recognize the most popular types of non-paper-based payment instruments, their formats and mechanisms
• Identify how each payment type is originated and settled and the participants involved
• Consider speed, finality, remittance data, transaction costs, limitations and risk when selecting payment mechanisms

• List of resources and references for payments and payments system issues

An awareness of fundamental corporate cash management principles and liquidity management objectives is recommended.

Payments Systems Concepts

• Clearing and Settlement
• Straight-through Processing (STP)
• Authorization
• Finality

Demystifying the Acronyms

• WEB, POP, TEL, ACH, RCK, ARC, EFT,

Governing Laws and Regulations

• Uniform Commercial Code (UCC4A)
• Reg E
• NACHA Rules

Wires

• FedWire, CHIPS, TARGET

ACH

• Format Types
• EDI and Flow of Remittance Data

Check Conversion

• Account Receivable Conversion (ARC)
• Back Office Conversion (BOC)
• Point of Purchase (POP)
• Check Imaging vs Check Conversion

Card Payments

• Credit and Debit
• Interchange and other fees

E-Payments Risk

• Fraud and Security

	CTP/CCM Recertification Credits Electronic Payments 101 is approved for up to 11 CTP/CCM recertification credits. Credit is earned at the rate of one credit per 50 minutes of treasury/cash management or finance-related session time, including questions and answers.
	CPE Credit The Association for Financial Professionals is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Eligible for up to 11 CPE Credits Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Web site: www.nasba.org

For more information regarding administrative policies, including submitting a complaint, please contact  AFP at 301.907.2862 or by email at AFP@AFPonline.org.