Postpay

Part of speech: verb, noun

Definitions

1. A payment system that allows users to pay after receiving a service or product
2. A financial arrangement where payment is made after consumption rather than upfront
3. A method of billing where charges are assessed after the transaction occurs

Etymology: "Postpay" is a plain compound: "post-" meaning "after," joined to "pay." Its structure tells the whole story, since the word simply describes paying after the goods or service have been received, the reverse of the usual advance payment. The prefix "post-" comes from Latin "post," meaning "after" or "behind," and it has been attached to English words for centuries to mark something coming later in time or sequence, as in "postdate" or "postwar." Because the formation is so transparent, there is little in the way of a hidden history to uncover. The word's value lies in how neatly it reverses the logic of "prepay," which is why the two terms are usually found together in discussions of billing, subscriptions and utilities.

Synonyms: pay later, defer payment, credit, bill, charge

Antonyms: prepay, pay upfront, advance payment