Meaning of “payment” - Learner’s Dictionary

payment

noun us uk /ˈpeɪmənt/
Students are exempted from payment.They received a final demand for payment.The company has decided to withhold payment until the job has been finished.They're demanding payment for services rendered.Prompt payment of the bill would be appreciated.
ACT [ U ]

the act of paying:

They will accept payment by credit card.
AMOUNT [ C ]

B2 the amount of money that is paid:

monthly payments
→ See also balance of payments , down payment

(Definition of “payment” from the Cambridge Learner’s Dictionary © Cambridge University Press)