Payment processing systems

Payment processing systems are secure digital networks that handle the transfer of money when you make a purchase using credit/debit cards or electronic payments. They verify your card details, check your account balance or credit limit, and approve the transaction. The system then communicates with your bank and the merchant’s bank to transfer funds, completing the sale. These systems ensure transactions are fast, safe, and accurate, often working behind the scenes in seconds. They enable seamless online and in-store payments, facilitating commerce while maintaining data security.