payment
PAY-muhnt
Payment (noun) means the act of paying, or a sum of money paid for goods, services, or a debt. Example: “The final payment on the loan is due next week.”
noun
1
The act of paying, or a sum of money paid for goods, services, or a debt.
"The final payment on the loan is due next week."
"We accept payment by card or bank transfer."
"In a report published on October 31, Transport Focus said that a number of train companies were unable to convince it about their ability to sell a full range of tickets, handle cash payments, and avoid excessive queues at ticket machines."
— 'Industry Insider', Outbreak of common sense (2023)
"Please make your payment before the end of the month to avoid a late fee."
How to use payment
Learner’s notesIn plain EnglishMoney handed over to settle a bill, debt, or purchase.
Common pairings
make a payment
monthly payment
payment plan
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Word forms
- Plural
- payments
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The final _____ on the loan is due next week.
Etymology
From Old French paiement, from "pay" plus the suffix "-ment."
Synonyms
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Related words
Rhymes for payment
See all rhymes for payment →Frequently asked questions
What does “payment” mean?
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.
How do you pronounce “payment”?
“Payment” is pronounced PAY-muhnt (/ˈpeɪmənt/ in IPA).
How do you use “payment” in a sentence?
Here is “payment” used in a sentence: “The final payment on the loan is due next week.”
What part of speech is “payment”?
“Payment” is a noun.
Where does the word “payment” come from?
The word “payment” comes from Old French. From Old French paiement, from "pay" plus the suffix "-ment.".
Is “payment” a common word?
“Payment” is a fairly common word in modern English, usually learned at around the B2 level.
What is the difference between a payment and a deposit?
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.
What are the main types of payment?
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.
What is the difference between payment and purchase?
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.
What is an example of a payment?
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.
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