# payment

Pronunciation: say "PAY-muhnt" /ˈpeɪmənt/

## Noun

1. A sum of money paid, for goods or services or toward a debt, or the transaction that conveys it.
   - Simple: An amount of money you pay, for example to buy something or to pay back what you owe.
   - _The contractor expects a deposit and a final payment on completion._
   - _Late payments on the credit card triggered an additional fee._
2. The act of paying: handing over money for goods, services, or to settle what is owed.
   - Simple: The act of giving money to buy something or to settle what you owe.
   - _Payment of the invoice was delayed until the goods were inspected._
   - _The landlord expects payment of the rent by the first of each month and charges a late fee after the fifth._

## Origin

From Old French "paiement," equivalent to "pay" combined with the suffix "-ment."

Source: DictionaryAI, https://dictionaryai.com/define/payment (written from Wiktionary data, CC BY-SA 4.0: https://creativecommons.org/licenses/by-sa/4.0/).