Pay-as-you-go

Full definition of pay-as-you-go

Noun

1. (economics) A financial policy by which capital projects are financed from current revenue in the operating budget rather than through borrowing.
2. (British) a payment method where credit is purchased in advance, used in small amounts and topped up when required. Used especially of mobile phones and transport ticketing.
3. (British) a mobile phone on such a tariff

Synonyms

• PAYG
• (payment method) pre-pay

Antonyms

• (payment method) contract mobile phones, season ticket transport ticketing
• (mobile phone) contract