---
term: "Payment"
category: "Money movement"
url: https://federatedbanking.com/glossary/payment
source: Federated Banking™ glossary
---

# Payment

> Money sent from one party to another, tracked from request to completion.

A payment moves an amount from a source to a destination. In a connected network it is initiated once, passes through clear states such as checking, ready, processing and completed, and can be followed from start to finish whichever provider carries it. The record of what happened stays available to the people who need it.

Related terms: [Payout](https://federatedbanking.com/glossary/payout.md), [Split payment](https://federatedbanking.com/glossary/split-payment.md)