payment vs disbursal

payment and disbursal both are nouns.

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

As nouns, disbursal is a hyponym of payment; that is, disbursal is a word with a more specific, narrower meaning than payment:

payment (noun)	disbursal (noun)
the act of paying money	the act of spending or disbursing money
an act of requiting; returning in kind	amounts paid for goods and services that may be currently tax deductible (as opposed to capital expenditures)
a sum of money paid or a claim discharged