collectioncol·lec·tion /kəˈlekʃən/ noun1[countableC, uncountableU] the activity of collecting payments from customers, and the payments themselvesGE Capital will handle the collections for the new credit card.
Italy has made good progress in cleaning up public finances and improving tax collection.
→ debt collection2[countableC, uncountableU]BANKING the activity of organizing the payment of cheques, SECURITIES etcSecurity Pacific is the system’s clearing bank, or channel for collection and disbursement of all funds and securities moving into and out of Delta.