What does 'pago' commonly refer to in context?

The term 'pago' commonly refers to 'payment' in contexts related to finance and transactions. In many Spanish-speaking countries, 'pago' is frequently used to describe the act of paying for goods or services or denotes the amount that is being paid. Understanding this term is essential in fields such as business, hospitality, and travel, as it helps clarify discussions around costs, invoicing, and financial agreements. While the other options touch on various related concepts like contracts, fees, and excursions, none of them encapsulate the direct meaning of 'pago' as accurately as 'payment' does.