Definition of paper credit in English:

paper credit

noun

  • 1Credit in the form of promissory notes, payment orders, cheques, etc. [Sometimes derogatory, with the suggestion that such credit may often be unsecured.]

  • 2As a count noun: a letter of credit, a cheque, etc., especially one intended to be transferred within the banking system without being redeemed.

Origin

Late 17th century. From paper + credit. Compare paper money.

Pronunciation

paper credit

/ˈpeɪpəˌkrɛdɪt/