Scheduled payments: are executed automatically when predefined conditions are met. These payments are therefore largely automated and follow a predetermined logic. Programmable payments already exist in today’s banking system, for example in the form of standing orders and direct debits. However, they are limited in that complex logic or business processes cannot be executed without human intervention. (Publication date: 3 May 2021)

(see https://philippsandner.medium.com/programmable-money-and-programmable-payments-8038ed8fa714)