royalty vs payment

royalty and payment both are nouns.

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

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

royalty: payment to the holder of a patent or copyright or resource for the right to use their property
payment: a sum of money paid or a claim discharged

royalty (noun)	payment (noun)
royal persons collectively	the act of paying money
payment to the holder of a patent or copyright or resource for the right to use their property	an act of requiting; returning in kind
	a sum of money paid or a claim discharged