You're looking to move up in Payment Systems. What's the best way to get there?

Some good ideas could be : 1) Do certifications that would help you learn and also boost your resume . 2) Never stop learning . If you know International payments , learn domestic, if you know domestic payment system of India , learn that of US ,UK and so on . 3) Pass on your understanding to others . 4) Build a good professional network .

Developing a deep understanding and becoming a subject matter expert is probably the only way. Some pointers on how to go about it: 1: Apply first principles based learning - Start with basics, question your assumptions and understand why we have/need a) transactions; b) where is a payment system needed; 2: Understand the nuances surrounding the varied payment schemes: Domestic vs Cross border; Deferred Net Settlement vs Gross Settlement; Bulk processing vs Message based vs Instant rails, Multi lateral vs Correspondent Banking model etc. 3: Understand the key tenets: Which all parties are involved, what role they play in the payment lifecycle etc. 4: Do certifications / Stay updated with the key developments in the space

Here are some steps you could consider: 1. Gain the Payment Systems Experience: Start by gaining experience in roles related to payment systems, such as working in payment rails (RTP, FedNow, FedWire, FedACH, SWIFT, Zelle, CHIPS etc.), card payments, payment hubs, banks, or fintech companies. 2. Continuing Education and Certifications: Consider pursuing additional education or certifications relevant to payment systems, such as AAP, CTP, FPP, CBPR+ etc. 3. Enhance Skills: Focus on developing skills (CBDC, ISO20022, Open APIs and Open Banking etc) that are in demand in the payment systems industry. 4. Stay Updated: Payment Systems are dynamic in nature and keep yourself updated. 5. Networking (LinkedIn):

Actively seek out career advancement opportunities within your current organization or explore opportunities with other employers in the Payment industry.

Before you even start to assess your skills you should consider your bigger purpose and main career goals. Then you are ready to reflect on your skills. In payments your skills reflection will often focus on you career to date, but you should also include short courses, and self-education including industry and online events.

Payments is ever evolving so important to subscribe to the likes of Finextra, Paypers, ... any site which provides information on payments (central banks etc) and just spend a few minutes each day keeping abreast of developments

Identifying your skills gaps is the first step toward improvement, and you can address them through various avenues such as online courses, webinars, books, podcasts, and blogs. Seek hands-on experience by working on projects, volunteering, or freelancing in payment systems. Pursue professional certification from reputable organizations like the Electronic Transactions Association (ETA), the Association for Financial Professionals (AFP), or the Payments Association of South Africa (PASA) to showcase your competence and credibility in the field.

Once you have identified your purpose, goals and skills then you need to consider your next steps. Self reflection is one option, and there are many self-help books/videos to assist, but you also collaborate with peers or payment leaders. I recommend #UnleashYourCareerInPayments free e-book from PayEd - Education in Payments. Approach a payments leader who you admire, at an event, or even via Linkedin/email to see if they will give you assistance on reviewing your career options, and building your pathway. If you dont know of anyone to contact, drop, me a line and I can make a referral for you.

Expanding the network is vital, but not at the expense of abusing it. Don't connect to experts and then ask for a job etc. Contribute to discussions and from there learn and then expand. Always provide a note when seeking a connection you do not actually know. This will hopefully reduce any IDK's on your profile

See I agree on this that expand network will be helpful but just adding all the people will not just work. Add network to your connection which are usefull to you , which may help.you in getting proper feeds and knowledge on the topic you required, Just adding all the people which is not even in your domain and no use of that will not work, So increase and expand your network to have proper guidance and Knowledge .

The people who rise to the top of payments quickly are the people who are really effective at getting stuff done. The one example that I see a lot of, is where people who are between roles that they don't ask their contacts for work, but instead they ask their contacts if there is anything that they help them with.

Write and publish blogs (on LinkedIn, Finextra etc) on things you've learned or happening in the industry (my own start point was considering open banking and PSD2) and 'cautiously' consider potential future impacts. Be willing to justify your thoughts but don't be scared to admit you might be wrong.

Correct The wold needs you to showcase yourself and your knowledge.All your skills, your network, Your knowledge and your proper goal for the system and domain is required, You should show Why you and only you. You build your own brand and your expertise in your domain will work.