Automated Payment Processing

Automated Payment Processing is a technology that handles financial transactions automatically without manual intervention. When you make a purchase or pay a bill, your bank or payment system securely routes the payment to the recipient, confirming the funds transfer instantly or within a short time. This process involves electronic communication between financial institutions, ensuring accuracy, speed, and security. It’s used for things like online shopping, bill payments, and subscription services, making transactions more efficient and reducing the chance of errors or delays.