Key Takeaways

• Credit card transactions rely on a multi-step process that extends beyond the checkout moment.
• Authorization, settlement, and funding occur through coordinated systems involving processors, networks, and banks.
• Payment gateways and processors play distinct roles in data formatting, routing, and risk screening.
• Issuing banks make approval decisions, while card networks facilitate communication between parties.
• Understanding transaction flow helps merchants resolve issues and adopt new payment features more effectively.