If I make a payment to my credit card, how does that transaction actually happen behind the scenes?
Does money from my checking account get transferred into the credit card issuer's checking account?
What would be the difference if it's the same-institution payment (e.g. Chase bank checking --> Chase Visa), vs different institution payment (e.g. Chase bank checking --> Capital One Visa).
I'm trying to understand the mechanism of payments between these financial entities - would they be using ACH transfers, Wire transfers, or something else?