A payment address refers to the address that a business or institution wants people to mail payments to, in exchange for various goods and services. Places that typically have payment addresses include banks, credit card companies and car dealerships.
When people purchase something online with a credit card, they need to provide a billing address, which is the address that the credit card company has on file for that particular card. A billing address is used to verify people's credit card information. The mailing address is the address that people want their mail delivered to. People's billing addresses are often the same as their mailing addresses.