LAYAWAY

Etymology

Noun

layaway (countable and uncountable, plural layaways)

Things which have had a deposit placed on them and which the owner (generally a store) has agreed to hold for the customer and accept full payment at a later time.

The system of accepting a deposit and holding for a customer to complete purchase.

Verb

layaway (third-person singular simple present layaways, present participle layawaying, simple past and past participle layawayed)

To place items on hold with a deposit at a merchant's.

Source: Wiktionary