transfer payment vs spending

transfer payment and spending both are nouns.

Word	Noun	Adjective	Verb	Adverb
transfer payment	Yes	No	No	No
spending	Yes	No	No	No

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

transfer payment: a public expenditure (as for unemployment compensation or veteran's benefits) that is not for goods and services
spending: money paid out; an amount spent

Other hypernyms of transfer payment include expenditure, outgo, outlay.

transfer payment (noun)	spending (noun)
a public expenditure (as for unemployment compensation or veteran's benefits) that is not for goods and services	the act of spending or disbursing money
	money paid out; an amount spent