Batch payment refers to the process of sending multiple transactions at once, rather than sending each payment individually. This method allows users to group several payments together in a single operation, which can save time and reduce transaction fees.

In practice, batch payments are beneficial for businesses or individuals making multiple payments to different recipients. Instead of processing each payment separately, a batch payment consolidates them, making the entire process more efficient. Additionally, batching can lower network congestion, as fewer transactions need to be processed individually.

It also helps in managing accounts and records more easily, as payments can be tracked collectively. This approach is especially useful for payroll, where a company can pay all its employees in one transaction rather than sending separate payments to each person. Overall, batch payments streamline the process of managing transactions, saving both time and resources.