Payment

Definition

Payment is a noun that refers to the act of transferring money, goods, or services as compensation or in exchange for something. It can also mean the amount paid or the process of settling a debt.

Parts of Speech

• Noun

Pronunciation

American English

• IPA Pronunciation: /ˈpeɪ.mənt/
• Respelling: PAY-muhnt

British English

• IPA Pronunciation: /ˈpeɪ.mənt/
• Respelling: PAY-muhnt

Etymology

The word "payment" originates from the Old French "paiement," meaning "action of paying," derived from the Latin "pacare," which means "to appease" or "to settle." It entered Middle English in the 14th century, retaining its original sense of settling a debt.

Derivatives

• Prepayment (noun)
• Repayment (noun)
• Underpayment (noun)
• Overpayment (noun)
• Payable (adjective)

Synonyms

• Remittance
• Settlement
• Disbursement

Antonyms

• Debt
• Default
• Nonpayment

Usage

The term "payment" is used in financial and commercial contexts to refer to the act or process of transferring money or goods. Examples include "The payment was made through a bank transfer" or "Monthly payments are required for the loan."

Related Terms

• Transaction: An exchange involving payment.
• Invoice: A document requesting payment for goods or services.
• Installment: A partial payment made over time.

Detailed Definitions

Noun

• The act of paying money: Refers to the process of compensating for goods, services, or settling debts.
  • Example: "The payment was completed electronically."
• An amount of money paid: Refers to the specific sum transferred in exchange for something.
  • Example: "The final payment was larger than expected."
• The process of making a transfer as compensation: Indicates the system or method used.
  • Example: "The company offers several payment options."