1.The receiver sends the remainder to the seller's business account and the transaction is complete from the seller's viewpoint.

The issuer sends the client a bill foreach transaction performed during the billing period containing the transaction in question. It is the client's responsibility to honor the cardholder contract and pay the bill.

Though the classic electronic card transaction is authorized and the client out of the picture within seconds the entire four steps process (up to trader funding) can take some business days to complete. Of course it can take a month or longer for the client to truly pay the issuing bank.