Course Overview

Day 1: Overview of Payment Systems

• Objective: Understand the current landscape, challenges, and opportunities in payments across Africa.
• Topics:
  • Evolution of Payments in Africa: From cash-based systems to digital payments.
  • Payment Ecosystems: Banks, FinTechs, telcos, and regulators.
  • Regulatory Frameworks: Central Bank of Nigeria (CBN) policies, PSD2, and African Continental Free Trade Area (AfCFTA).
  • Key Players in the Payment Space: Flutterwave, Paystack, Interswitch, Paga, and others.
  • Challenges in Payments: Financial inclusion, infrastructure gaps, and interoperability.
• Practical:
  • Analyze a case study on a successful payment solution in Nigeria.
  • Create a map of stakeholders in the Nigerian payment ecosystem.

Day 2: Mobile Payments and Digital Wallets

• Objective: Explore mobile payment systems and their impact on financial inclusion.
• Topics:
  • Mobile Money in Africa: Success stories like M-Pesa and their replication in Nigeria.
  • Digital Wallets: Features, adoption strategies, and competitive landscape.
  • Telco-Led Payment Models: Collaboration between telcos and financial institutions.
  • Agent Banking and Offline Payments: Extending reach to underbanked areas.
  • Interoperability Challenges: Connecting mobile wallets and traditional banking.
• Practical:
  • Design a mobile payment solution for rural communities in Nigeria.
  • Conduct a SWOT analysis of agent banking in Africa.

Day 3: Cross-Border Payments and Real-Time Payment Systems

• Objective: Understand cross-border payment systems and the role of real-time payment solutions.
• Topics:
  • Cross-Border Payments: Role of AfCFTA, SWIFT gpi, and blockchain technologies.
  • Real-Time Payments in Africa: Implementation and benefits (e.g., NIBSS Instant Payment).
  • Challenges in Cross-Border Transactions: Currency volatility, regulatory disparities, and settlement delays.
  • Blockchain and Crypto in Payments: Applications in remittances and cross-border transfers.
  • Case Studies: Chipper Cash, Flutterwave's Barter, and other platforms.
• Practical:
  • Develop a process flow for a real-time cross-border payment system.
  • Compare costs and efficiency of traditional vs. blockchain-based payments in Africa.

Day 4: Security, Fraud Prevention, and Compliance in Payments

• Objective: Address the critical aspects of payment security, fraud prevention, and compliance.
• Topics:
  • Fraud Trends in African Payments: Phishing, SIM swap fraud, and card fraud.
  • Regulatory Compliance: AML, KYC, and CBN guidelines.
  • Security Tools: Tokenization, encryption, and biometric authentication.
  • AI in Fraud Detection: Predictive analytics and machine learning use cases.
  • Customer Education: Enhancing trust through awareness campaigns.
• Practical:
  • Develop a fraud prevention framework for a mobile payment platform.
  • Conduct a workshop on customer onboarding and KYC compliance.

Day 5: Future Trends and Strategy Development

• Objective: Prepare for the future of payments in Nigeria and Africa.
• Topics:
  • Emerging Trends: Central Bank Digital Currencies (CBDCs), AI, and embedded finance.
  • Open Banking in Africa: Opportunities for innovation.
  • Sustainability in Payments: Green finance and inclusive growth.
  • Strategy Development: Building a roadmap for scalable, secure, and inclusive payment systems.
  • Capstone Session:
    • Develop a comprehensive payment strategy for a Nigerian bank or FinTech.
    • Focus on mobile payments, cross-border solutions, and financial inclusion.
• Practical:
  • Group presentations of payment strategies.
  • Feedback session and course wrap-up.

Learning Outcomes

By the end of the course, participants will:

1. Understand the dynamics of payment systems in Nigeria and Africa.
2. Develop strategies for mobile and digital payment adoption.
3. Apply innovative technologies like blockchain, AI, and biometrics.
4. Navigate regulatory and compliance challenges effectively.
5. Build scalable, secure, and customer-centric payment solutions.