How do payment systems work?

[Barnabas]

How exactly do modern payment systems function behind the scenes, from initiating a transaction to completing it, and what roles do banks, payment processors, and gateways play in ensuring that money is transferred securely and efficiently between consumers and businesses?

[Utred]

I’ve always been curious about how payment systems actually work, and it’s interesting how quickly everything happens behind the scenes. When a customer pays, the system checks the transaction, verifies funds, and completes the transfer to the merchant. I found this guide — https://redandwhitemagz.com/a-compre...ent-solutions/ — really helpful for understanding the full process and how different components interact.