Okay, I'm simplifying a little bit. It wouldn't work exactly like that. You'd lock up $100 (or approve the contract to spend up to $100), specify the time I'm unix timestamps, and leave it up to the recipient to claim their money.

That's sort of besides the point though. I'm just saying that you have the ability to implement whatever ad hoc or arbitrarily complex payment logic you want without relying on a middleman.