Payment networks are systems that facilitate the transfer of money between consumers, merchants, and financial institutions. They enable electronic transactions, allowing people to pay for goods and services using credit cards, debit cards, or digital wallets. Major payment networks include Visa, Mastercard, and American Express, which connect banks and merchants to process payments securely and efficiently. These networks operate by authorizing, clearing, and settling transactions. When a consumer makes a purchase, the payment network verifies the transaction details and ensures that funds are available. Once approved, the network transfers the money from the consumer's bank to the merchant's account, completing the transaction.