Discount is both a noun and a verb. A discount is a reduction in the asking price for a good or service. A discount may also be an advance deduction of interest to arrive at the present value of money when a person lends money on a note, bill of exchange, or other commercial paper.
To discount refers to the act of reducing the aforementioned asking price. In more common parlance, the verb may also be used as a synonym for “discredit.”
[Last updated in June of 2021 by the Wex Definitions Team]