# payment

/ˈpeɪmənt/ (US) · /pˈeɪmənt/ (UK)

Source: https://englishreference.com/word/payment
Updated: 2026-06-19

## Senses

### 1. the act of paying

noun · CEFR B1

the act of giving money to someone for goods or services.

For teachers: the process of transferring money or value in exchange for goods, services, or to fulfill a legal obligation.

- The shop requires payment before they will ship your order.
- The contract stipulates that payment must be received in full before the intellectual property rights are officially transferred to the client.

Usage: Often used with the prepositions 'for' or 'of'.

### 2. a sum of money

noun · CEFR B1

a specific amount of money that you pay.

For teachers: a specific sum of money paid or a single transaction within a series.

- I made a small payment on my credit card bill this morning.
- The homeowner struggled to meet the monthly mortgage payments after the interest rates increased unexpectedly.

Usage: Commonly used in the plural when referring to a series of scheduled costs.

## Examples

- I made the final payment on my car today.
- The landlord requires payment by the first of the month to avoid any late fees.
- While digital transactions have streamlined the process, many international vendors still require a secure down payment before shipping high-value industrial equipment.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.