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English definition of “payment”

payment

noun     /ˈpeɪ.mənt/
B2 [C or U] an amount of money paid : Usually we ask for payment on receipt of the goods . We need a deposit of £165 followed by twelve monthly payments of £60. When is the first payment due ?Earning money and money earned [S or U] reward : Verbal abuse was hardly the payment I expected for my troubles .Prizes, rewards and medals back payment an amount of money received by an employee because of a pay rise at an earlier time Forms of money and methods of payment
(Definition of payment noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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