Payment verification is the process of confirming that a financial transaction is legitimate and authorized. This typically involves checking the details of the payment, such as the credit card number, expiration date, and security code, against the information provided by the bank or payment processor. Once the payment details are verified, the transaction can proceed, ensuring that the funds are available and that the payer has authorized the payment. This step is crucial for preventing fraud and protecting both the merchant and the consumer from unauthorized charges.