How it's meant to work is the payment gets sent back to the card issuer, who then will either transfer it to another account you have with them, or send it to an account at another bank, or send you a cheque. This might happen automatically, or it might need the cardholder to ring up.

In practice it can be highly variable because a lot of bank IT is built on mainframe systems from the 80s, written in something like COBOL, and maintained by the remaining three balding chaps who remember how it works and are being paid indecent sums not to retire.