Longman Dictionary of Contemporary English homepage

payment

noun
     
pay‧ment S2 W1
1 [countable] an amount of money that has been or must be paidCOLLOCATIONS COLLOCATIONS
make a payment receive a payment meet the payments on something (=afford to pay something) monthly payment cash payment down payment (=a small payment for something you are buying, when you will pay the rest later) interest payment mortgage payment
You can make a payment in any bank.
Employees may occasionally receive bonus payments.
The country cannot meet the payments on its £80 billion foreign debt.
She agreed to repay the loan in monthly payments of £125.
Discounts are offered for cash payments.
the interest payments on your credit card bill
They fell behind on their mortgage payments.
2 [uncountable] the act of paying for something
payment of
There are severe penalties for late payment of taxes.
payment in
Most hotels here accept payment in dollars.
Payment can be made by cheque or credit card.
We do accept payment in instalments (=paying in small amounts over a period of time).
She demanded payment in advance.
in payment for something (=in order to pay for something)
cheques received in payment for goods supplied
on payment of something (=when an amount has been paid)
Any item can be reserved on payment of a deposit.
3

payment in kind

B a way of paying for something with goods or services instead of money

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