Initiate payment log easily

Aug 6th, 2022
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How to initiate payment log

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hello everyone my name is Larry and in this session lets learn about transactions and lots to support the transaction the moment your brain hears the word transaction obviously you will be start thinking about database transaction its quite fine but transaction is not just limited to database but its a very general concept and in this session Im gonna explain the different kind of laws which we use to support the feature transaction both in case database and in case of non database kind of implementations as well Im pretty sure that you guys know about transactions and how it exactly works these examples in this particular video is to make the concept stronger and understand whether the different type of locks available to support the transactions lets take an example in which in this scenario there are two friends who is trying to purchase something on Amazon from the existing wallet considered the Amazon wallet has about hundred dollars and both have the login information and

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Payment initiation is a type of payment method facilitated by open banking. Put simply, it involves customers allowing third-parties to connect to their banks and authorise payments directly from their bank account.
A transfer is usually initiated from one bank or financial institution to another. Rather than cash, the participating institutions share information about the recipient, the bank receiving account number, and the amount transferred. The sender pays for the transaction upfront at their bank.
Payment initiation allows for real-time bank transfers, instead of waiting for 24 hours for pending transfers. These transactions are also received instantly, so essentially, its a payment method at the moment of purchase, which makes it a much easier process for customers and businesses to settle their bills.
Initiated Transfer Purchase means a transaction that is initiated or directed by a Contract owner that results in a transfer of assets within a Contract to a Fund, but does not include transactions that are executed: (i) automatically pursuant to a contractual or systematic program or enrollment such as transfer of
Payment initiation is a new way of triggering payment by transfer. With traditional transfers, which are triggered on the payers initiative, the customer enters and validates the payment from his mobile or web banking area. This obviously requires the customer to know the beneficiarys bank details in advance.
Payment initiation service providers (PISPs) are authorised third-party service providers that work as intermediaries between banks and merchants. They enable direct money transfers from the consumers bank account to the merchants account via application programming interfaces (APIs).
Payment Initiator means a card holder or account holder who initiates a payment with the Service for the purpose of paying a Merchant for goods and/or services.
Payment initiation can be done by providing a specific payment network to which the payment needs to be forwarded or without providing the network details. If network is not provided for a payment, system has the capability to derive the same using the network rule maintained for the processing Host.

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