Payment Risk 101 from Udemy

What's inside

Syllabus

Introduction

A warm welcome and a brief overview

Understand the payment basics like pull/push payments, open-loop/closed-loop payment systems

Present the payment basics, we are going to learn about open-loop systems, closed-loop systems, push payments, pull payments and payment methods

Introduce the card system, we will take about:

Key players: issuer, card network, acquirer
How card transaction process: authorization and Clearing & Settlement
Card Present Transaction vs Card Not Present Transaction
Credit/Debit Card Interchange Fee
Card Risk

Introduce the chargeback and refund, we will talk about:

What's chargeback/refund
Why care about chargeback
How to reduce chargeback

Introduce the ACH system, we will take about:

Key players: ODFI, Operator, RDFI
ACH Types: ACH Credit Transaction vs ACH Debit Transaction
ACH Interchange Fee
ACH Risk

We will talk about at the risks associated with payment:

ATO/SF/NSF/Merchant Risk

Payment Basics

regulations and fraud programs

talk about fraud programs like VDMP, VFMP and EFM.

talk about 3DS2.0, PSD2 and SAC

Regulation E vs Regulation Z

Quiz for payment regulation and fraud program

talk about Statistics and modeling knowledge for payment

talk about stats 101 for payments like hypothesis and confidence interval

talk about confusion matrix

talk about popular payment risk models like decision tree and random forest

Linear Regression 101

Linear Regression 102

Linear Regression 103

Linear Regression 104

Logistic Regression 101

logistic regression 102

Quiz for the risk statistics

Understand everything about ATO like the meaning, how to prevent ATO attack and what risk actions we can take

Introduce the basic ATO concepts, We will talk about:

What does ATO mean
How could it happen
Why ATO prevention is important

Introduce how to identify ATO attacks, We will talk about:

Typical ATO examples
What variables we can use to catch ATO attacks
How could fraudsters avoid our risk checks

Introduce what risk actions we have, We will talk about:

Decline
Authentication
- Meaning
- Types
- Pros and Cons
Hold
Manual Review

Introduce ATO real world examples, We will talk about:

Some real world ATO examples
How to design risk rules

Consumer Risk: ATO Quiz

Understand the basics about SF & NSF

Introduce the basic SF & NSF concepts, We will talk about:

What does SF & NSF mean
How could SF or NSF happen
Why SF & NSF prevention is important

Introduce how to identify SF & NSF attacks, We will talk about:

Typical SF & NSF examples
What variables we can use to catch SF & NSF attacks
How could fraudsters avoid our risk checks
CVV and AVS

Introduce what risk actions we have, We will talk about:

Decline
Authentication
- CVV
- AVS
- Random Deposit
- Yodlee
Hold
Manual Review

Introduce SF real-world examples, We will talk about:

Some real-world SF and NSF examples
How to design SF and NSF risk rules

Consumer Risk: SF & NSF Quiz

talk about Family fraud

talk about family fraud basic knowledge

talk about How to identify FF

Talk about how to better deal with FF

Quiz for FF

Understand the basics about Merchant Risk

Introduce the basic Merchant Risk concepts, We will talk about:

What does Merchant Risk mean
- Fraud
  - IVR
  - SNAD
- Credit

Introduce how to identify Merchant Risk attacks, We will talk about:

Typical Merchant Risk examples
What variables we can use to catch Merchant Risk attacks
- Merchant Segment
- Delivery Days
How could fraudsters avoid our risk checks

Introduce what risk actions we have, We will talk about:

Decline
Hold
Manual Review
Reserve

Introduce Merchant Risk real world examples, We will talk about:

Some real world Merchant Risk examples
How to design risk rules

Merchant Risk Quiz

Congratulations

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Payment Risk 101 with these activities:

Review Payment Processing Basics

Show steps

Solidify your understanding of fundamental payment concepts before diving into risk management.

Browse courses on Payment Systems

Show steps

Review definitions of pull and push payments.
Compare open-loop and closed-loop systems.
Summarize the key differences between payment methods.

Read 'Fraud Prevention for Dummies'

Show steps

Gain a broader understanding of fraud prevention principles applicable to the payment industry.

View Putting Knowledge to Work on Amazon

Show steps

Read the sections on common fraud schemes.
Identify prevention techniques applicable to payment risk.
Summarize key takeaways from each chapter.

Analyze Chargeback Scenarios

Show steps

Practice identifying the root causes of chargebacks and developing strategies to mitigate them.

Show steps

Obtain sample chargeback data or scenarios.
Identify the reasons for each chargeback.
Propose solutions to prevent similar chargebacks.

Four other activities

Expand to see all activities and additional details

Show all seven activities

Create a Presentation on Account Takeover

Show steps

Deepen your understanding of Account Takeover (ATO) by researching and presenting on the topic.

Show steps

Research ATO methods and prevention techniques.
Outline the presentation structure.
Create slides with clear explanations and visuals.
Practice delivering the presentation.

Review 'Payment Systems in the US'

Show steps

Expand your knowledge of the US payment ecosystem and its underlying infrastructure.

View Payments Systems in the U.S. on Amazon

Show steps

Read chapters on card networks and ACH systems.
Summarize the key regulations governing payment processing.
Identify emerging trends in payment systems.

Develop a Risk Rule for NSF

Show steps

Apply your knowledge by designing a practical risk rule to detect Non-Sufficient Funds (NSF) fraud.

Show steps

Identify key indicators of NSF fraud.
Define the conditions for triggering the risk rule.
Test the rule against historical transaction data.
Refine the rule based on testing results.

Build a Confusion Matrix Visualization

Show steps

Create a data visualization of a confusion matrix to better understand model performance.

Show steps

Gather data from a payment risk model.
Calculate true positives, true negatives, false positives, and false negatives.
Create a visual representation of the confusion matrix.
Interpret the results and draw conclusions.

Career center

Learners who complete Payment Risk 101 will develop knowledge and skills that may be useful to these careers:

Risk Manager

Risk Managers are responsible for developing and implementing strategies to mitigate risks associated with payment processing and financial transactions. This involves assessing potential threats, creating risk models, and ensuring compliance with industry regulations. The Payment Risk 101 course introduces you to vital areas like card systems, chargebacks, and the ACH system, which are essential for understanding and managing payment-related risks. You'll examine topics such as risk modeling, hypothesis testing, and confidence intervals, providing a strong foundation for quantitative risk assessment. Moreover, the course's examination of Account Takeover, Stolen Financials, Non-Sufficient Funds, and Merchant Risk is essential for any aspiring Risk Manager.

See salaries and explore the career path for Risk Manager

Fraud Investigator

Fraud Investigators conduct in-depth investigations into suspected fraudulent activities within payment systems. This involves gathering evidence, interviewing witnesses, and collaborating with law enforcement to prosecute offenders. The Payment Risk 101 course introduces you to various types of payment fraud, including family fraud, Account Takeover, and Stolen Financials. Fraud Investigators can use the knowledge gained from the course to identify fraud patterns, gather evidence, and build strong cases against perpetrators. The course's case studies further enhance your ability to analyze real-world fraud scenarios. If you are interested in becoming a Fraud Investigator, this course is useful in sharpening your investigative skills.

See salaries and explore the career path for Fraud Investigator

Payment Operations Specialist

Payment Operations Specialists manage the day-to-day operations of payment processing systems, ensuring transactions are processed accurately and efficiently. This includes handling card authorizations, clearing and settlement, and addressing any issues that arise during the payment process. The Payment Risk 101 course provides a comprehensive overview of payment basics, including pull/push payments, open-loop/closed-loop systems, and card systems. Payment Operations Specialists can leverage this knowledge to troubleshoot issues, optimize payment workflows, and improve overall efficiency. Understanding chargebacks, refunds, and the ACH system allows for better handling of payment-related inquiries and discrepancies. Enrolling in this Payment Risk 101 course is useful for those seeking a role as a Payment Operations Specialist.

See salaries and explore the career path for Payment Operations Specialist

Data Analyst

Data Analysts collect, process, and analyze large datasets to identify trends, patterns, and insights that can inform business decisions. In the payment industry, Data Analysts focus on analyzing payment data to detect fraud, optimize processes, and improve risk management. The Payment Risk 101 course covers statistical concepts like hypothesis testing, confidence intervals, and confusion matrices, which are essential tools for data analysis. Data Analysts can use these techniques to build models that predict fraud, identify high-risk transactions, and segment customers based on their risk profiles. The Payment Risk 101 course is useful for those seeking to develop or enhance their data analysis skills.

See salaries and explore the career path for Data Analyst

Fraud Analyst

A Fraud Analyst plays a crucial role in identifying and preventing fraudulent activities within payment systems. This career involves analyzing transactions, monitoring accounts, and using various tools and techniques to detect suspicious patterns. The Payment Risk 101 course introduces you to payment basics, card systems, and risks such as Account Takeover, Stolen Funds, and Non-Sufficient Funds, all directly relevant to a Fraud Analyst's responsibilities. The course's coverage of fraud programs, regulations like Regulation E and Z, and concepts like the confusion matrix further prepares you for the analytical aspects of the job. The Payment Risk 101 course may prove useful, especially with its insight into identifying and preventing fraud.

See salaries and explore the career path for Fraud Analyst

Underwriter

Underwriters evaluate the risk associated with providing financial services, such as loans or credit, to individuals or businesses. This involves analyzing financial data, assessing creditworthiness, and setting appropriate terms and conditions. The Payment Risk 101 course introduces you to the concepts of merchant risk, family fraud, and various types of payment fraud. This education helps to identify potential risks associated with new merchants or customers. Additionally, understanding chargebacks and refunds provides a deeper understanding of the potential financial liabilities involved. This course is relevant to those seeking to become an Underwriter, especially within the context of financial institutions.

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Compliance Officer

Compliance Officers ensure that payment processes and systems adhere to relevant laws, regulations, and industry standards. This role involves monitoring transactions, conducting audits, and implementing policies to prevent fraud and money laundering. The Payment Risk 101 course covers regulations like Regulation E and Regulation Z, fraud programs, and authentication protocols, all critical for Compliance Officers in the payment industry. Understanding these regulations and programs helps Compliance Officers develop and enforce effective compliance measures. You'll also explore fraud detection, providing insights into identifying and preventing non-compliant activities. If you aspire to be a Compliance Officer in the payments sector, this course may prove useful, particularly focusing on regulatory compliance.

See salaries and explore the career path for Compliance Officer

Security Analyst

Security Analysts are responsible for protecting payment systems and data from cyber threats and fraud. This involves monitoring networks, detecting vulnerabilities, and implementing security measures to safeguard sensitive information. The Payment Risk 101 course covers essential aspects of payment security, including authentication methods and strategies to prevent Account Takeover attacks. Security Analysts can leverage this knowledge to design and implement robust security protocols to protect against payment fraud. Understanding how fraudsters avoid risk checks, as covered in the course, may be useful in developing proactive security measures. If you are an aspiring Security Analyst, consider the course's modules on authentication and Account Takeover prevention.

See salaries and explore the career path for Security Analyst

Auditor

Auditors evaluate the effectiveness of an organization's internal controls and compliance with regulations. In the payment industry, auditors assess the security and integrity of payment systems, fraud prevention measures, and regulatory compliance. The Payment Risk 101 course covers key regulations like Regulation E and Z, fraud programs, and authentication protocols, which auditors need to understand to conduct effective audits. The course is useful, particularly the sections on regulatory and fraud risk assessment.

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Product Manager

Product Managers oversee the development and launch of payment products and services, ensuring they meet customer needs and align with business objectives. This involves conducting market research, defining product requirements, and collaborating with engineering and marketing teams. The Payment Risk 101 course provides a broad understanding of the payment ecosystem, including card systems, ACH, and emerging payment methods. Product Managers can leverage this knowledge to make informed decisions about product features, pricing, and risk management strategies. The Payment Risk 101 course may prove useful, particularly for those who want to create innovative and secure payment solutions.

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Business Development Manager

Business Development Managers identify and pursue new business opportunities within the payment industry. This involves building relationships with partners, negotiating contracts, and expanding the company's reach into new markets. The Payment Risk 101 course provides a solid understanding of the payment landscape, including different payment systems, regulations, and risk factors. Business Development Managers can leverage this knowledge to identify potential partners, assess market opportunities, and develop compelling value propositions. The Payment Risk 101 course may be helpful, especially when pitching the value of payment risk management to potential clients.

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Consultant

Consultants provide expert advice and guidance to organizations on a variety of business challenges. In the payment industry, consultants help companies optimize their payment processes, improve risk management, and comply with regulations. The Payment Risk 101 course offers a comprehensive overview of the payment ecosystem, including card systems, ACH, fraud prevention, and regulatory compliance. Consultants can use this knowledge to assess a client's current state, identify areas for improvement, and develop tailored solutions. The Payment Risk 101 course may be helpful, especially with the foundational knowledge of payment risk.

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Financial Analyst

Financial Analysts provide financial planning, analysis, and reporting to support business decisions. In the payment industry, Financial Analysts focus on evaluating the financial performance of payment products and services, assessing investment opportunities, and managing financial risk. The Payment Risk 101 course covers key concepts like interchange fees, chargebacks, and fraud losses, which are essential for financial modeling and forecasting. Financial Analysts can use this knowledge to assess the profitability of payment products, evaluate the impact of fraud on financial performance, and develop strategies to mitigate financial risk. Those who want to enhance their financial analysis skill set may find this course useful.

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E-commerce Manager

E-commerce Managers oversee the online sales and marketing operations for a company. One key part of this is ensuring secure and efficient online payment processing. The Payment Risk 101 course introduces you to card systems and various types of online payment risks, such as card-not-present fraud and account takeovers. This knowledge is helpful for implementing effective fraud prevention measures, optimizing the customer checkout experience, and minimizing chargebacks. The insights into authentication methods and risk strategies may be particularly useful. E-commerce Managers may find this course helpful, especially in improving their understanding of online payment security.

See salaries and explore the career path for E-commerce Manager

Customer Support Specialist

Customer Support Specialists assist customers with payment-related inquiries and issues. This involves answering questions, resolving complaints, and providing technical support. The Payment Risk 101 course provides a basic understanding of payment processes, including card authorizations, chargebacks, and refunds. Customer Support Specialists can use this knowledge to better understand customer inquiries, troubleshoot payment problems, and provide accurate information. The course's coverage of different payment methods and risk factors helps Customer Support Specialists address a wide range of customer concerns. Those who want to improve their knowledge of payments may find this course useful.

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Payment Risk 101

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