Payment initiation technology has a variety of applications.

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Payment initiation technology has a variety of applications.
The following are some examples of uses for payment initiation technology:
Transferring money from one person to another (P2P): P2P transfers enable merchants to act as a middleman between various parties and transfer money between non-owned bank accounts. The merchant may choose to set up the source account and destination account directly, or he or she may acquire the necessary information from users.
Direct payments between users on sharing economy and social media platforms are one example of this.
Instant payments are a function that enables real-time payments to be made by using the intelligence of a payments API. As an alternative to utilizing a single, default bank account, payments may be made across accounts at the same bank, allowing the transaction to be completed in real-time.
A real-world example would be the delivery of loan pay-outs from lenders and microlenders in real-time.
Using programmed scheduling or condition-based triggers, money moves may be automated by communicating with APIs to create payments when certain criteria — such as quantities or transfer dates — are satisfied.
Example: Automatically funding bank accounts when their balances fall below a certain level.

References

Lin, Yun-Tsan, Shui-Chuan Chen, and Hsiang-Ta Chuang. “The effect of organizational commitment on employee reactions to educational training: An evaluation using the Kirkpatrick four-level model.” International Journal of Management 28.3 (2011): 926.