Payment

An amount of money paid.

1.

Defined broadly, payment refers to the payor’s transfer of a monetary claim on a party acceptable to the payee. Typically, claims take the form of banknotes or deposit balances held at a financial institution or at a central bank.

2.

The term is also defined more strictly for certain accounting and tax purposes, where the exact timing of payments - for example either within or outside of a given tax calculation period - may be essential for the determination of tax liabilities and tax reliefs.

See also

• Committee on Payments and Market Infrastructures (CPMI)
• Digital payment
• Discharge
• Emerging Payments Association
• Frictionless payments
• Pan-African Payment and Settlement System (PAPSS)
• Pay
• Payment factory
• Payment infrastructure
• Payment rail
• Payments Vision Delivery Committee
• PSOR
• Receipt
• Remittance
• Retail Payments Infrastructure Board