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 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, NOLA.com, "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, Bloomberg.com, "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.

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First Known Use of payment

14th century, in the meaning defined at sense 1

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Time Traveler for payment

Time Traveler

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

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Last Updated

25 Feb 2021

Cite this Entry

“Payment.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/payment. Accessed 5 Mar. 2021.

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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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