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Payment - Meaning, Definition & English Examples

Payment is the act of giving money or something of value in exchange for goods, services, or to settle a debt. It completes a transaction between parties.

payment

/ˈpeɪmənt/ /ˈpeɪmənt/

Definition:

The act of giving money in exchange for goods or services.

Synonyms:

remittance, settlement, fee, compensation

Part of Speech:

noun

Antonyms:

nonpayment, debt

Common Collocations:

monthly payment, payment method, payment plan, payment receipt

Derivatives:

pay, payable, payer

Usage Tips:

Use "payment" when referring to the transfer of money for goods or services rendered.

Common Phrases:

down payment, payment in full, deferred payment

Etymology:

From Old French "paiement," derived from Latin "pacare," meaning to pacify or settle a debt.

Examples:

  • 1. She made the payment online.
  • 2. The payment is due next week.
  • 3. He received a payment for his work.
  • 4. They offer flexible payment options.

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