define payment - Search
  1. Dictionary

    pay·ment
    [ˈpām(ə)nt]
    noun
    payment (noun) · payments (plural noun)
    1. the action or process of paying someone or something or of being paid:
      "ask for a discount for payment by cash" · "three interest-free monthly payments"
    2. an amount paid or payable:
      "an interim compensation payment of $2500"
      • something given as a reward or in recompense for something done:
        "a suit with a velvet collar that I got as payment for being in the show"
    Origin
    late Middle English: from Old French paiement, from payer ‘to pay’.
    Translate payment to
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  2. People also ask
    What does payment mean?A payment is an amount of money that is paid to someone, or the act of paying this money. Thousands of its customers are behind with loans and mortgage payments. Payment is the act of paying money to someone or of being paid. He had sought to obtain payment of a sum which he had claimed was owed to him. 3. See also balance of payments, down payment
    What is a payment in a bank?From Longman Dictionary of Contemporary English pay‧ment /ˈpeɪmənt/ ●●● S2 W1 noun 1 [ countable] an amount of money that has been or must be paid You can make a payment in any bank.
    What is a payment in a contract?Payment is the exchange of something of value as part of an agreement. One party makes payment and receives something else of value, while the other party receives payment in exchange for providing a good or service. The most traditional type of payment was through physical currency, but a majority of payment types now leverage technology.
    What is payment & how does it work?Payment is the exchange of money, goods, or services for goods and services in an acceptable amount to both parties and has been agreed upon in advance. You can pay with cash, a check, a wire transfer, a credit card, a debit card, or even cryptocurrency. Understanding Payment The way money works now, you can pay for things with cash.
    economictimes.indiatimes.com
     
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