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 After the city’s payment on the debt for the up-front grant, Oak Creek would share the available tax increment and other revenue (including hotel room tax) up to $2,348,400 with Stand Rock Hospitality. Erik S. Hanley, Milwaukee Journal Sentinel, "Delayed by COVID-19, an Oak Creek hotel development near IKEA is getting back on track," 9 Apr. 2021 People in this boat will have already received a third stimulus check based on their 2019 tax return — a stimulus payment, remember, that stems from the $1.9 trillion relief bill that President Biden signed into law on March 11. Andy Meek, BGR, "You might be able to get more stimulus money if you do this," 8 Apr. 2021 The last entry in Jasmine’s NICA case management log is a payment to a funeral home. Carol Marbin Miller, ProPublica, "When Births Go Horribly Wrong, Florida Protects Doctors and Forces Families to Pay the Price," 8 Apr. 2021 Pousaz, a college dropout who founded in 2012 to solve the problem of online payment processing for shops and shoppers around the world, still owns about two-thirds of the company after three rounds of funding. David Dawkins, Forbes, "’s Guillaume Pousaz Emerges As One Of Europe’s Leading Billionaire Fintech Founders," 7 Apr. 2021 Miller sat out a game in 2018 after ESPN reported that he was heard on an FBI wiretap discussing a $100,000 payment to future No. 1 overall NBA pick Deandre Ayton. John Marshall, ajc, "Arizona parts ways with Sean Miller amid NCAA investigation," 7 Apr. 2021 Now start-ups with names like Blend, Brex and Dave that provide decidedly unglamorous banking, lending and payment processing offerings are hot tickets. Erin Griffith, New York Times, "The Start-Up Enemies of Wall Street Are Booming," 29 Mar. 2021 Others include those who handle payment processing, combating fraud and those involved with App Store development, policies and tools. Jazmin Goodwin, CNN, "Tim Cook and other Apple executives will testify against Epic in Fortnite trial," 21 Mar. 2021 The Arizona House of Representatives voted on Wednesday to pass a bill requiring Apple and Google's app stores to allow developers to avoid fees and use their own payment processing systems. Nihal Krishan, Washington Examiner, "Arizona GOP pushes legislation to loosen Apple and Google grip on developers," 4 Mar. 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

14 Apr 2021

Cite this Entry

“Payment.” Dictionary, Merriam-Webster, Accessed 17 Apr. 2021.

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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.

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Comments on payment

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