👉 "Payment" is a broad concept that refers to the act of receiving money or other payment from another party for something. It can refer to different types of payments, such as cash payments, credit card payments, checks, and loans. Payment can be made in person, online, or through digital platforms like bank transfers, credit cards, and mobile apps. In everyday language, "payment" is often used to describe the act of receiving money from someone else for something that they want or need.
