Digital Wallets and POS Systems

What You Can Do After This Chapter

Learning objective. Learner explains digital wallets and point-of-sale systems, including token provisioning, NFC, QR payments, and settlement, and designs a wallet payment flow for a retailer. Learner demonstrates this skill using realistic banking examples, explaining each step clearly and using correct terminology throughout.

Practical assessment. Learner designs a wallet payment flow for a retailer accepting NFC and QR payments for an average 25 dollar basket, covering provisioning, authentication, authorization, and settlement. Learner then explains what happens when a wallet token is compromised, listing the revocation steps, and compares wallet settlement timing with card settlement timing. Learner submits the work with all calculations, sources, and assumptions stated clearly, and checks the result against the chapter checklist before final submission.

Expected deliverables.

• Wallet payment flow diagram
• POS acceptance design note
• Token compromise and revocation procedure
• Wallet versus card settlement comparison

Completion criterion. Learner covers provisioning, authentication, and settlement in the flow, lists the revocation steps correctly, and compares settlement timing accurately. Completion is judged on accuracy, completeness, and clear reasoning throughout the submitted work.