paymentpay·ment /ˈpeɪmənt/ noun1[countableC, uncountableU]FINANCE an amount of money that must be or has been paid, or the act of paying itSome suppliers to the company had tightened credit terms, allowing the company only 30 days to make payments.
$900 million of loans to help the country meet payments (=make them on time) for energy imports
Cash discount is an allowance off a debt given to encourage prompt payment (=payment on time).
I enclose a cheque in payment of my account.
The plan also calls for payment in full to creditors by 31 Dec.
2[countableC, uncountableU]FINANCE one of the methods of paying for something, and the act of using one of these methodsBuyers made the first payment by letter of credit instead of cash.
Discounts are given for cash payment.
quarterly payments
direct-debit payments
→ credit card payment3[countableC, uncountableU]FINANCE amounts of money paid at the different stages of buying something or being paid for something → advance payment → down payment → final payment → goodwill payment → instalment payment → interim payment → progress payment4payment on accountACCOUNTING a payment that is part of the total payment for somethingSYN PART-PAYMENTNothing at all has been paid. There has been no payment on account.
5payment in kindCOMMERCE a way of paying for something using goods or services rather than money
6payment on delivery abbreviation POD (also payment on receipt of goods)COMMERCE payment that is made at the time when goods are delivered, often made to the person delivering themSellers prefer payment on delivery, but buyers have a different view.
8payment on statementACCOUNTING payment that is made when a buyer receives a statement saying how much is owed on an account at an agreed later date 9[countableC]FINANCE money paid to people for the work they do
→ bonus payment → royalty payment → salary payment → wage payment10[countableC]FINANCE money paid to people who are ill, unemployed etc → disability payment → social security payment → transfer payment → welfare payment11[countableC, uncountableU]FINANCE money paid to SHAREHOLDERs, or the repayments of loans, bonds etc to lendersBrazil hasn’t made payments on its bank debt in recent months.
Creditors have also agreed to reschedule payments (=accept later payment) of senior debt initially due next month.
→ accelerated payment → balloon payment → debt payment → dividend payment → interest payment → principal payment12[countableC] money paid to someone to settle a claim, dispute etcLawyers say that this move is likely to delay the payment of damages to many victims.
→ compensation payment → ex gratia payment