When grabbing your morning coffee from a local shop, how do you prefer to pay? Cash, credit card, check? Indeed, there are many ways to pay for goods and services. These different methods of payment are simply known as payment systems.

Although cash is a widely accepted payment system, it should come as no surprise that most transactions nowadays are conducted using non-cash payment systems. In this course, we’ll focus on a traditional non-cash paper-based payment system: negotiable...