Meaning of the word prepay in English

What does prepay mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

prepay

US /ˌpriːˈpeɪ/
UK /ˌpriːˈpeɪ/

Verb

pay for something in advance

Example:
You need to prepay for the concert tickets.
Many services require you to prepay before use.