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noun pay·ment \ˈpā-mənt\

: the act of giving money for something : the act of paying

: something that is given to someone in exchange for something else

: an amount of money that is paid for something

Full Definition of PAYMENT

:  the act of paying
:  something that is paid :  pay
:  requital

Examples of PAYMENT

  1. Payment is due on the first of every month.
  2. Prompt payment of your bill ensures that you will not have to pay any additional fees.
  3. We require payment in advance for all goods purchased.
  4. a payment plan to reduce your debt
  5. cash, credit cards, and other methods of payment
  6. Our records show that we received a payment of $215.36 in May.
  7. Buy this product for three easy payments of only $19.95!
  8. It took me five years to pay off the car, but I never missed a payment.
  9. making payments on a loan
  10. The credit card company just increased the penalty on late payments.

First Known Use of PAYMENT

14th century

Rhymes with PAYMENT

PAYMENT Defined for Kids


noun pay·ment \ˈpā-mənt\

Definition of PAYMENT for Kids

:  the act of giving money for something bought or for a service used
:  money given to pay a debt <For three years I'll make payments on a car.>
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