Last updated: October 2026
Short answer: CPCM is the Certificate in Payments and Cash Management, a Level 3 qualification from LIBF (part of Walbrook Institute London) that teaches how payments, liquidity and cash management work. It was previously called the Certificate in Principles of Payments (CertPAY). The renamed qualification has a name that reflects its full scope and online exams you can take at any time.
CPCM at a Glance
| Qualification | Certificate in Payments and Cash Management (CPCM), formerly CertPAY |
|---|---|
| Level | Level 3, registered with Ofqual |
| Fee in India | £700, including study materials and exam entry |
| Study | Online, on demand, about 200 hours |
| Exams | Two online multiple-choice exams, 70% pass mark in each |
Is CPCM the Same as CertPAY?
CPCM is the renamed CertPAY. The qualification launched in 2017 as the Certificate in Principles of Payments and has been taken by thousands of learners in more than 70 countries. It now has a name that reflects its full scope, including liquidity, cash management and the financial systems behind corporate treasury and transaction banking, and the exams are taken online at any time with remote invigilation. If you see CertPAY mentioned online, CPCM is the current qualification.
- Unit 1, Foundations of Payments and Cash Management: the parts that make up a payment, why payments matter to the economy, payment systems and channels, connectivity, and liquidity and treasury management.
- Unit 2, Regulation, Risk and Compliance in Payments and Cash Management: payment regulation and compliance, operational risk, and technology, data and security.
The programme also covers current developments in payments, such as instant settlement and digital currencies.
CPCM Exam Format and Pass Mark
- Both units are multiple-choice exams with four options per question.
- You need at least 70% to pass each unit. The qualification is graded pass or fail.
- Unit 1 has 35 questions in 40 minutes.
- Unit 2 has 25 standalone questions plus two case studies with five linked questions each, in 45 minutes.
- Exams are taken online with remote invigilation. You do not need to book a date in advance.
- Registration lasts 12 months, so plan your study time inside that window.
Who Should Do CPCM?
- Payments, operations and cash management staff in banks
- Treasury and corporate finance teams who manage liquidity and payment flows
- Transaction banking and trade finance professionals who want to understand how money moves
- Risk and compliance professionals working with payment regulation
- Newcomers who want a clear foundation in payments
How Long Does CPCM Take?
Plan for about 200 hours of study. The programme is self-paced and studied online, so you can fit it around work. Many people spread it over a few months.
CPCM Fee in India
The CPCM fee at LIBF India is £700, which includes study materials and exam entry. See the CPCM course page for the latest details and to register.
Is CPCM Worth It If You Work in Trade Finance?
Trade finance sits inside the wider payments system. CPCM helps you understand how payments settle, how liquidity is managed and where payment risk comes from, which is useful if you handle trade clients. For trade-specific qualifications, see trade finance courses in India and CDCS vs CITF.
Frequently Asked Questions
What does CPCM stand for?
Certificate in Payments and Cash Management.
What was CPCM called before?
The Certificate in Principles of Payments (CertPAY). Only the name changed.
How many exams are in CPCM?
Two, one for each unit, both online and multiple choice.
What is the CPCM pass mark?
70% in each exam.
Do I need experience in payments?
No. There are no specific entry requirements.
How much does CPCM cost in India?
£700 at LIBF India, including study materials and exam entry.
See the CPCM course and register
LIBF India is part of Walbrook Institute London (formerly the London Institute of Banking & Finance). Read what changed.