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Overpay: meaning, definitions and examples

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overpay

 

[ ˌoʊvərˈpeɪ ]

Verb
Context #1 | Verb

financial transaction

To overpay means to pay more than what is due or required for a product or service. This can occur due to a pricing error, lack of negotiation, or misunderstanding of the costs involved. Overpaying can also refer to paying more than the market value for something, which can result in financial loss. It's a common issue in business negotiations, purchases, and contracts.

Synonyms

exceed payment, overcharge, pay excessively.

Examples of usage

  • I accidentally overpaid for my new phone.
  • The company realized they overpaid for the office supplies.
  • Many consumers tend to overpay for services due to lack of research.

Translations

Translations of the word "overpay" in other languages:

🇵🇹 pagar a mais

🇮🇳 अधिक भुगतान करना

🇩🇪 überzahlen

🇮🇩 membayar lebih

🇺🇦 переплатити

🇵🇱 przepłacić

🇯🇵 過剰に支払う

🇫🇷 surpayer

🇪🇸 sobrecargar

🇹🇷 fazla ödemek

🇰🇷 과지불하다

🇸🇦 الدفع الزائد

🇨🇿 přepay

🇸🇰 preplatiť

🇨🇳 过度支付

🇸🇮 preplačati

🇮🇸 ofgreiða

🇰🇿 артық төлеу

🇬🇪 მეტად გადახდა

🇦🇿 artıq ödəmək

🇲🇽 sobrecargar

Etymology

The term 'overpay' is formed by combining the prefix 'over-' meaning 'excessively' or 'too much', with the verb 'pay', which originates from the Old French 'paier', derived from the Latin 'pacare', meaning 'to appease or pacify'. The evolution of this term reflects the broader notion of financial transactions and value exchange. The concept of overpayment has existed as long as currency has been used, indicating a historical context in economic activities. Over the years, as commerce evolved, the implications of overpaying have become significant, especially in consumer rights and business practices. The rise of competitive marketplaces has brought attention to the necessity of fair pricing, thus highlighting the importance of avoiding overpayment.

Word Frequency Rank

Ranking #38,328, this word is encountered relatively rarely in everyday English. It might appear in literary works or specialized texts but isn't essential for general communication.