For a credit payment system,the processing of the payment begins at the:

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The processing of the payment in a credit payment system always begins at the payer's financial institution, as this is where the payment instruction is initiated and the funds are debited from the payer's account. The payee's financial institution and the exchange settlement account of the payee come into play later in the payment processing, when the payment is routed and the funds are credited to the payee's account. The Australian Reserve Bank is not directly involved in the processing of credit payments, but it plays a regulatory and oversight role in the payment system as a whole.

For a Credit Payment System,the Processing of the Payment Begins