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paymaster
Paymaster-General
payment
payment by results
payment date
payment gateway
payment gateway certificate authority
payment-in-kind
payments netting
paymi
paynim
payoff
payola
payout
payout ratio
payphone
payroll
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payments netting
pay·ments net·ting


noun 
Definition:
 
reducing of transfers to net amount: the consolidation of amounts owed to and by an organization to a single payment or receipt at the end of a period. Reducing the number of transactions reduces costs.
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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