deferred payment vs payment

deferred payment and payment both are nouns.

Word	Noun	Adjective	Verb	Adverb
deferred payment	Yes	No	No	No
payment	Yes	No	No	No

As nouns, payment is a hypernym of deferred payment; that is, payment is a word with a broader meaning than deferred payment:

deferred payment (noun)	payment (noun)
arrangement for deferred payment for goods and services	the act of paying money
	an act of requiting; returning in kind
	a sum of money paid or a claim discharged