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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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Examples
London weighting is an extra payment that some workers receive to compensate for the higher cost of living in the capital.
If you had a standard monthly payment for the same amount each month, then your request could be actioned.
The better-off refuse payment for services they accept while their victims are so servile and acquiescent that they make no protest.
Under the Holidays Act, if an employee works on any public holiday, that work now attracts a minimum payment of time and a half.
Most taxpayers who were eligible for the advance payment received a notice from the taxation office shortly before they got their check.
Methods of distributing alternative monies and ensuring their acceptability as payment are still being ironed out.

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