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

Keep scrolling for more

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.
See More
Recent Examples on the Web By issuing that debt, the city was able to make a lump-sum payment of about $200 million to CalPERS. New York Times, "To Plug a Pension Gap, This City Rented Its Streets. To Itself.," 16 Feb. 2021 The likelihood of a third stimulus payment of up to $1,400 for individuals is on the table now. Susan Tompor, Detroit Free Press, "IRS to start processing 2020 tax returns Friday: What to know before you file," 12 Feb. 2021 Victory made the first payment of $37.5 million in the fourth quarter. Patrick Danner, San Antonio Express-News, "San Antonio asset management firm Victory Capital posts record financial results," 11 Feb. 2021 The permitting decision followed the DEQ’s Dec. 7 approval of two settlement offers by Shintech involving different batches of state rule violations, requiring payment of fines of $80,000 and $70,000. Mark Schleifstein,, "Shintech expansion follows agreements to pay $356K to settle Louisiana, federal violations," 1 Feb. 2021 Bergman paid up to $50,000 in bonus money to compete with state and federal unemployment benefits that, for several months last year, included a federal payment of up to $600 a week. Star Tribune, "Peace Coffee, G&B Environmental pruned, then grew to survive through pandemic," 29 Jan. 2021 Earlier this month, Grimes said, SeaWorld made a payment of $1.6 million, which reflects a percentage of rent for revenue the park collected over a 10-month period between February and November of last year. San Diego Union-Tribune, "SeaWorld offers Sesame Street light parade drive-through-style," 21 Jan. 2021 Pillay also rejected accusations that delays in the payment of a deposit to Covax last year had set back the vaccination program, saying due process had to be followed with the Treasury and the facility had been notified. S'thembile Cele,, "South Africa Sees Vaccine Deals Wrapped Up Within a Month," 15 Jan. 2021 That package also includes $600 relief checks for most adults and a supplemental unemployment benefit payment of $300 a week. Christopher Rugaber, The Christian Science Monitor, "US unemployment applications spike to highest since August," 14 Jan. 2021

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.

See More

First Known Use of payment

14th century, in the meaning defined at sense 1

Keep scrolling for more

Learn More about payment

Time Traveler for payment

Time Traveler

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

See more words from the same century

Statistics for payment

Last Updated

25 Feb 2021

Cite this Entry

“Payment.” Dictionary, Merriam-Webster, Accessed 5 Mar. 2021.

Style: MLA
MLA Chicago APA Merriam-Webster

Keep scrolling for more

More Definitions for payment



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


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.

Keep scrolling for more

Comments on payment

What made you want to look up payment? Please tell us where you read or heard it (including the quote, if possible).


Test Your Vocabulary

Who Knew?

Spell It

Can you spell these 10 commonly misspelled words?

Universal Daily Crossword

A daily challenge for crossword fanatics.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!