Payment – el pago
(Pronounced pah-go)
To remember that payment is pronounced pah-go (pago) in Spanish, use the following mnemonic:
He hadn't made payment despite repeated reminders, so they took his pagoda (pago) away.

Pago is masculine so it's el pago. Imagine an elephant making payment in a shop:

Examples of pago (payment) in a sentence
El pago se puede hacer con tarjeta o en efectivo.
(The payment can be made by card or in cash.)
Todavía no he recibido el pago de este mes.
(I still haven't received this month's payment.)
¿Puedo dividir el pago en dos partes?
(Can I split the payment into two parts?)