Payment | Mean of payment in English Dictionary

/ˈpeɪmənt/

• Noun
• the act of giving money for something
1. Payment is due on the first of every month.
2. Prompt payment of your bill ensures that you will not have to pay any additional fees.
3. We require payment in advance for all goods purchased.
4. an online/electronic payment system
5. a payment plan to reduce your debt
6. He was released from prison on payment of [=after paying] a $5,000 fine.
7. cash, credit cards, and other methods of payment
8. I had the bank stop payment on the check. = I had a stop payment (order) put on the check. [=I told the bank not to take money from my account to pay for the check]
• something that is given to someone in exchange for something else
1. He accepted the tickets as payment (for his services).
2. We bought them dinner in payment [=as a way of paying them] for all their help.
• an amount of money that is paid for something
1. Our records show that we received a payment of $215.36 in May.
2. Buy this product for three easy payments of only $19.95!
3. low monthly payments
4. It took me five years to pay off the car, but I never missed a payment.
5. making payments on a loan
6. Their family is struggling to meet the payments on their house. = They're struggling to keep up (with) their mortgage payments.
7. The credit card company just increased the penalty on late payments.
8. She wrote the first three chapters of her book and received an advance payment from the publisher.
9. cash payments from donors
10. interest payments on a loan