Payment
Noun
UK
/ˈpeɪ.mənt/
US
/ˈpeɪ.mənt/
Definition
Money given or the act of giving money for something.
Example
"He missed a payment and had to pay extra charges later."
"The payment must be completed before the order is shipped."
"Online payment methods make shopping faster and more convenient for customers."
Explanation
Payment is the act of giving money for something you buy or a service you use. It can be made using cash, card, or online methods. Payment is also the money itself that is given to complete a purchase. People make payments for rent, electricity, food, or services like internet and phone bills. Payments help keep trade and services running smoothly in everyday life.