A payment intangible is a non-physical type of asset, or general intangible, that is a monetary representation of future payment owed to another person or business. Examples of payment intangibles include accounts receivable, royalties, or patent license agreements. Loosely, a non-physical asset that manifests itself as an income stream for a given commercial entity.
Payment intangible is defined by the UCC Article 9, under Secured Transactions Definitions as “a general intangible under which the account debtor's principal obligation is a monetary obligation.”
[Last updated in June of 2024 by the Wex Definitions Team]