Authorize.Net passes the secure transaction information via a secure connection to the Processor.
The Merchant Bank's Processor submits the transaction to the credit card network (like Visa or MasterCard). The credit card network routes the transaction to the bank that issued the credit card to the customer.
The issuing bank sends the appropriate funds for the transaction to the credit card network, which passes the funds to the merchant's bank.
The bank then deposits the funds into the merchant's bank account. This is called 'settlement', and typically the transaction funds are deposited into the merchant's primary bank account within two to four business days.