Definition of payment noun from the Oxford Advanced American Dictionary

      

    payment

     noun
    noun
    NAmE//ˈpeɪmənt//
     
     
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  1. 1[uncountable] payment (for something) the act of paying someone or something or of being paid payment in installments/in advance/by check/in cash There will be a penalty for late payment of bills. What method of payment do you prefer?
  2. 2 [countable] payment (for something) a sum of money paid or expected to be paid a cash payment They are finding it difficult to meet the payments on their car. He agreed to make ten monthly payments of $150. see also balance of payments, down payment
  3. 3[uncountable, singular] payment (for something) a reward or an act of thanks for something you have done synonym recompense We'd like you to accept this gift in payment for your kindness. Is this all the payment I get for my efforts?
  4. Idioms
    on payment of something
     
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    when something has been paid Attendance is only allowed on payment of the full registration fee. Thesauruspaymentpremium contribution subscription repayment deposit installmentsThese are all words for an amount of money that you pay or are expected to pay, or for the act of paying.payment an amount of money that you pay or are expected to pay; the act of paying:ten monthly payments of $50 payment in advancepremium an amount of money that you pay once or regularly for an insurance policy; an extra payment added to the basic rate; a higher amount of money than usual:an insurance premium a premium for express deliverycontribution a sum of money that you pay regularly, often to your employer or the government, for benefits such as health insurance, a retirement plan, etc:You can increase your monthly contributions to your savings account.subscription an amount of money you pay in advance to receive regular copies of a newspaper or magazine, or to receive a service:a subscription to “Newsweek”repayment money that you pay to a bank, etc. until you have returned all the money that you owe; the act of paying this money:to set up a repayment plandeposit an amount of money that you pay as the first part of a larger payment; money that you put into a bank account:We've put down a 5% deposit on the house. I made a $500 deposit into my checking account.installments one of a number of payments that you make regularly over a period of time until you have paid for something:We paid for the car by/in installments.Patterns (a/an) annual/monthly/regular payment/premium/contributions/subscription/deposit/installments payment/repayment in full to pay a premium/a contribution/a subscription fee/a deposit/installments to make (a) payment/deposit to meet/keep up (with) (the) payment(s)/the premiums
See the Oxford Advanced Learner's Dictionary entry: payment

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