SAP Message 67_LOAN_PAY153 - Payment method & not defined for individual payment: see long text

Diagnosis
Incorrect payment method selection:
A payment method with individual payment must be assigned to the flow,as the indicator for payments to third parties is activated on the flowtype.

Procedure
Choose a suitable payment method. The payment method must be assignedto the business partner in the current company code. If no such paymnetmethod is assigned to the business partner, you will first have to makethis assignment via partner maintenance.