The term 'PAYMENT OF A BILL' can be summarized as the remittal of funds to settle a debt. Remittal is an 8-letter word that refers to the act of sending money in order to pay a bill or other financial obligation. It is often used in the context of business transactions, such as when a company sends payment for goods or services it has received. In some cases, remittal may also refer to the act of sending money to a charity or other organization.