the day on which wages are given, payment is made, etc.
Informal. a day or period during which a great deal of money, success, fame, etc., is won or obtained: Payday came when she was given a screen test by a big Hollywood studio.

1520–30; pay1 + day Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
payday (ˈpeɪˌdeɪ)
the day on which wages or salaries are paid

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Or how about the number of payday lenders in neighborhoods of color.
The shops that seem to be thriving are weighted towards chain stores and payday
  loan outfits.
They recognised that cheque-cashing stores and payday lenders are expensive,
  but they appreciated the relative transparency.
The charges claim that customers were charged for things they didn't want when
  they went to a website seeking a payday advance.
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