Payment denotes the settlement of a monetary obligation by moving funds from the debtor to the creditor. In banking and economic statistics, the term is sometimes used more broadly for the instruction that initiates such a transfer. In that usage, a payment may be recorded as a transfer order even though the underlying obligation has not yet been settled.
Passende Formel
Source: European Central Bank (ECB) (source). This glossary entry is an independently worded adaptation of the cited information.