payment

noun
pay·​ment | \ ˈpā-mənt How to pronounce payment (audio) \

Definition of payment

1 : the act of paying
2 : something that is paid : pay
3 : requital

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Examples of payment in a Sentence

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

Users get 3% back on purchases made directly from Apple Stores and services, 2% back on Apple Pay payments to other vendors, and 1% back on purchases made using the physical credit card, ostensibly just at vendors who don't support Apple Pay. Samuel Axon, Ars Technica, "Apple’s innovative virtual credit card is now available—but only to some people," 6 Aug. 2019 In February, the UK’s Financial Conduct Authority published a policy statement (pdf) on payments, as authorities look to make these services more clear and to avoid misleading advertising claims. John Detrixhe, Quartz, "Is PayPal’s Xoom money transfer service a good deal?," 6 Aug. 2019 Stanford has never made a payment in lieu of taxes. Kathleen Pender, SFChronicle.com, "Some of the Bay Area’s biggest property owners don’t pay property tax. Here’s why," 3 Aug. 2019 The properties were taken last year by Brookfield, a global real estate firm and the owner of downtown's Allen Center and Houston Center office complexes, after TPMC fell behind on loan payments and was facing foreclosure. Nancy Sarnoff, Houston Chronicle, "Report: L.A.'s Regent Properties to buy West Loop office towers," 24 July 2019 Investigators say Johnson was behind on lease payments for the gym and other debts. Elizabeth Zavala, ExpressNews.com, "Podcast: Why $1.2 million bail for San Antonio man charged with arson causing death won't be reduced," 23 July 2019 After 5 consecutive on time payments, those responsible financial habits bump up your credit line. Danny Nelson, USA TODAY, "The best credit cards for college students," 22 July 2019 The idea was to cut down on undeserved payments that cost CMS nearly $30 billion over the past three years. Kaiser Health News, oregonlive.com, "Medicare knows about $30 billion in overbilling but refunds prove elusive," 20 July 2019 The foundation made interest payments and obtained extensions, Wesch said, but their time is up this month. Lily Jackson | Ljackson@al.com, al.com, "Mobile plan aims to pull GulfQuest out of rough waters, again," 18 July 2019

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'payment.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of payment

14th century, in the meaning defined at sense 1

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Last Updated

14 Aug 2019

Look-up Popularity

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The first known use of payment was in the 14th century

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More Definitions for payment

payment

noun

English Language Learners Definition of payment

: 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

payment

noun
pay·​ment | \ ˈpā-mənt How to pronounce payment (audio) \

Kids Definition of payment

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

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More from Merriam-Webster on payment

Rhyming Dictionary: Words that rhyme with payment

Thesaurus: All synonyms and antonyms for payment

Spanish Central: Translation of payment

Nglish: Translation of payment for Spanish Speakers

Britannica English: Translation of payment for Arabic Speakers

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