/ ˈpeɪmənt; NAmE / noun payment (for sth)
1.
[ U ] the act of paying sb/sth or of being paid :
payment in instalments / in advance / by cheque / in cash
There will be a penalty for late payment of bills.
2.
[ C ] 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 £50.
—see also balance of payments , down payment
3.
[ U , sing. ] a reward or an act of thanks for sth you have done
SYN recompense :
We'd like you to accept this gift in payment for your kindness.
Is this all the payment I get for my efforts?
•
IDIOMS
- on payment of sth
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SYNONYMS
payment
premium ♦ subscription ♦ repayment ♦ deposit ♦ instalment
These 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 advance
premium
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 delivery
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
an amount of money that you pay regularly to a bank, etc. until you have returned all the money that you owe; the act of paying this money:
the repayments on the loan
deposit
an amount of money that you pay as the first part of a larger payment:
We've put down a 5% deposit on the house.
instalment
one of a number of payments that you make regularly over a period of time until you have paid for sth :
We paid for the car by / in instalments.
PATTERNS AND COLLOCATIONS :
The money was in payment / repayment of a debt.
(a / an) annual / monthly / regular / cash payment / premium / subscription / repayment / deposit / instalment
payment / repayment in full
to pay a(n) premium / subscription / deposit / instalment
to make (a) payment / repayment / deposit
to meet / keep up (with) (the) payment(s) / the premiums / (the) repayment(s) / the instalments
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WORD ORIGIN
late Middle English : from Old French paiement , from payer to pay.