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/ˈpeɪ. mənt/
Meaning & Definition
noun
The action or process of paying someone or something or of being paid.
The payment for the services rendered was received on time.
An amount of money that is paid.
He made a payment of $500 towards his loan.
A payment made for something that is owed, typically in the context of bills, debts, or purchases.
The payment for the electricity bill is due at the end of the month.
The satisfaction or compensation received for a service or work.
Freelancers often worry about the promptness of payment for their projects.
Etymology
From Old French 'paiment', from Latin 'pensio', meaning' a weighing out, payment'.
Common Phrases and Expressions
final payment
The last installment of a payment plan.
made payment
Completed the action of paying.
payment plan
An arrangement to pay in installments.
Related Words
refund
Money returned to the payer.
receipt
A document acknowledging the receipt of payment.
invoice
A document requesting payment for goods or services.
Slang Meanings
Paying the bills
Gotta make sure I'm paying the bills on time!
Chipping in
We're all chipping in for the dinner payment.