payment

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Payment Definition & Meaning

1. Payment refers to the act of giving money or something of value in exchange for goods or services received.

Example: I made a payment of $50 for my monthly phone bill.

2. Payment can also refer to the amount of money that is due or owed for a particular transaction or debt.

Example: The payment for the car loan is due on the 15th of each month.

3. In some contexts, payment may refer to a reward or compensation for work or services rendered.

Example: The company offered a generous payment package to attract top talent.

4. Payment can also refer to the process of settling an outstanding debt or obligation.

Example: The debtor made a partial payment towards his outstanding balance.

5. Finally, payment can refer to the method or form in which a transaction is completed, such as cash, credit card, or online transfer.

Example: The store accepts payment by cash, credit card, or mobile wallet.

Examples of the word payment used in sentences.

  • I received a confirmation email for my payment.
  • Can I make the payment using my credit card?
  • How much will be the payment for the meal we ordered?
  • I made my payment for the ticket online.
  • The payment for the rent is due on the first of each month.
  • The company offers a monthly payment plan for their services.
  • Please ensure that your payment is received before the deadline.
  • I received a notification that my online payment was successful.
  • I made my final payment on my car last month.
  • Do you accept card payments or do I need to pay in cash?
  • The monthly payment for my car lease is quite manageable.
  • I would like to know the payment options available for this product.
  • I can't make the payment this month, but I'll definitely pay it all off next month.
  • We require a 50% payment in advance to confirm your reservation.
  • The payment for the service was deducted automatically from my bank account.
  • I can't wait to receive my payment for all the overtime I put in last month.
  • As per our agreement, the payment for the project will be made in installments over the next six months.
  • The company offers a range of payment options to make it convenient for customers to purchase its products.
  • You can make a secure payment through our website using your credit card or PayPal.
  • The late payment of your utility bill could result in disconnection of services, so make sure to pay it on time.
  • The company offers flexible payment options for customers to choose from.
  • The landlord requested a late payment fee from the tenant for not paying the rent on time.
  • I prefer making payment through online banking or credit card for convenience and security.
  • The payment for the service was surprisingly low considering the quality of work done.
  • Can I make a partial payment towards the balance of my credit card bill?
  • The vendor accepted a variety of payment methods, including credit cards, PayPal, and wire transfers, to accommodate their global customer base.
  • The payment for the luxury villa was due at check-out and the amount was significantly higher than anticipated.
  • The company's policy regarding late payments was strictly enforced, resulting in significant penalties for those who failed to pay on time.
  • The employee's contract specified a bonus payment upon completion of their project, motivating them to work diligently and strive for excellence.
  • The government's new health care policy sought to reduce out-of-pocket payments for patients and increase access to affordable medical treatment.
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