payment

The word “payment” means the act of paying, or a sum of money paid for goods, services, or a debt. In plain terms, money handed over to settle a bill, debt, or purchase.

“Payment” is pronounced PAY-muhnt (/ˈpeɪmənt/ in IPA).

Here is “payment” used in a sentence: “The final payment on the loan is due next week.”

“Payment” is a noun.

The word “payment” comes from Old French. From Old French paiement, from "pay" plus the suffix "-ment.".

“Payment” is a fairly common word in modern English, usually learned at around the B2 level.

A payment is money handed over for goods, services, or a debt. A deposit is a specific kind of payment made in advance — either part of a larger sum to reserve something, or money placed into an account. So a deposit is usually an upfront or partial payment rather than the full, final amount.

Common methods include cash, debit and credit cards, bank transfers, cheques, and mobile or digital wallets. Payments can be one-off or recurring, such as a subscription, and can be made in full or in installments over time. The right method depends on the amount, the seller, and how quickly the money must clear.

A purchase is the act of buying something; a payment is the money transferred to complete it. You can make a purchase and arrange to pay later, or split the payment into installments. Payment is one part of a purchase — the settling of what is owed — rather than the whole transaction itself.

Handing a cashier a note, tapping a card to settle a bill, or transferring rent to a landlord are all payments. So is a monthly repayment on a loan. In each case money changes hands to cover goods, services, or a debt, which is exactly what the word describes.