The entire process of the payment authorization occurs in a matter of seconds. It involves the cardholder, merchant, issuing bank (cardholder’s bank), acquiring bank (merchant’s bank), and card network (Visa or Rupay).

The parties involved exchange information to verify the transaction and approve it or decline it depending on the details of the transaction.

Lastly, the merchant settles the transactions with the acquiring bank in batches, which concludes the credit card processing.