payment Meaning, Definition & Usage

  1. noun a sum of money paid or a claim discharged
  2. noun the act of paying money
    defrayment; defrayal.
  3. noun an act of requiting; returning in kind
    requital.

WordNet

Pay"ment noun
Etymology
F. payment, paiement. See Pay to requite.
Definitions
  1. The act of paying, or giving compensation; the discharge of a debt or an obligation.
    No man envieth the payment of a debt. Bacon.
  2. That which is paid; the thing given in discharge of a debt, or an obligation, or in fulfillment of a promise; reward; recompense; requital; return. Shak.
  3. Punishment; chastisement. R.

Webster 1913