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What does payment mean?

Looking for the meaning or definition of the word payment? Here's what it means.

Noun
  1. (uncountable) The act of paying.
  2. (countable) A sum of money paid in exchange for goods or services.
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I used the money to make a down payment on the whacking great mortgage we had at the time.
Under the Holidays Act, if an employee works on any public holiday, that work now attracts a minimum payment of time and a half.
If you had a standard monthly payment for the same amount each month, then your request could be actioned.
He had already moved against the clergy with accusations of praemunire and in 1532 forbade the payment of Annates or first fruits to Rome.
Most taxpayers who were eligible for the advance payment received a notice from the taxation office shortly before they got their check.
Normally the operator kept an account of the person's name and amount owed and expected payment every two to four weeks.

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