Payment Systems

Teachers

Included in study programs

Teaching results

The aim of the course is to acquire comprehensive knowledge about the content and mechanism of use of modern and standard payment instruments and the ability to use them adequately in practice.
Knowledge:
- orientation in the European and Slovak banking system,
- knowledge of the content and requirements of modern and standard payment instruments,
- understanding the principles of settlement of payments,
- understanding payment risks and the way to hedge them.

Skills:
- application of theoretical knowledge in deciding on the selection of payment term,
- mastering the mechanism of using individual payment instruments,
- the ability to make adequate use of individual payment instruments in a business case.
Competences:
- personnel competencies developed by an individual analysis of selected payment problems and the formulation of own solutions,
- professional competence acquired through the application of knowledge in solving real business cases,
- technical competencies developed by learning about the technological side of the functioning of individual payment instruments.

Indicative content

Lectures:
1. Origins and development of money.
2. European Monetary Union and the banking system.
3. Cash and non-cash payments.
4. Credit and debit transfer, payment cards.
5. Electronic banking, electronic money.
6. Payment settlement systems.
7. Promissory note, bill of exchange.
8. Cheque.
9. Documentary letter of credit.
10. Documentary collection.
11. Security instruments in the payment system.
12. Deciding on the selection of payment term.
13. Business and payment relations in Slovak retail.
Seminars:
1. Introduction to payments.
2. Gold versus cryptocurrencies.
3. Slovak banking system.
4. Security features of banknotes and coins.
5. Current account and payment card usage mechanism.
6. Electronic money versus digital currency.
7. Semester test.
8. Bill of exchange assessment.
9. Use of a cheque.
10. Business case using a documentary letter of credit.
11. Business case using a documentary collection.
12. Bank guarantee in practice.
13. Example of deciding on the choice of payment term.

Support literature

MANN, R. J. 2020. Payment Systems and Other Financial Transactions. New York: Wolters Kluwer, 2020. ISBN 978-1-5438-0451-5
GORKA, J. 2017. Transforming Payment Systems in Europe. Palgrave Macmillan, 2017. ISBN 978-1-3497-1251-9
FRATIANNI, M., VON HAGEN, J.: The European Monetary System and European Monetary Union. Oxon: Routledge, 2019. ISBN 978-0-367-29186-0

Syllabus

Lectures: 1. Origins and development of money. 2. European Monetary Union and the banking system. 3. Cash and non-cash payments. 4. Credit and debit transfer, payment cards. 5. Electronic banking, electronic money. 6. Payment settlement systems. 7. Promissory note, bill of exchange. 8. Cheque. 9. Documentary letter of credit. 10. Documentary collection. 11. Security instruments in the payment system. 12. Deciding on the selection of payment term. 13. Business and payment relations in Slovak retail. Seminars: 1. Introduction to payments. 2. Gold versus cryptocurrencies. 3. Slovak banking system. 4. Security features of banknotes and coins. 5. Current account and payment card usage mechanism. 6. Electronic money versus digital currency. 7. Semester test. 8. Bill of exchange assessment. 9. Use of a cheque. 10. Business case using a documentary letter of credit. 11. Business case using a documentary collection. 12. Bank guarantee in practice. 13. Example of deciding on the choice of payment term.

Requirements to complete the course

Requirements to complete the course:
activity on seminars – 20%
results of semester test – 20%
results of final written exam – 60%

Student workload

Total study load (in hours):
participation in lectures – 26 h
participation in seminars – 26 h
preparation for seminars – 13 h
preparation for semester test – 13 h
preparation for exam – 26 h
Total: 104 h

Language whose command is required to complete the course

English

Date of approval: 20.02.2023

Date of the latest change: 01.07.2022