Folding payment up, could I be? (7)
I believe the answer is:
origami
'folding' is the definition.
(origami involves folding)
'payment up could i be?' is the wordplay.
'payment' becomes 'giro' (I've seen this in other clues).
'up' is a reversal indicator (in down clue: letters go upwards).
'could i be?' becomes 'amI' (am I?).
'giro' in reverse letter order is 'orig'.
'orig'+'ami'='ORIGAMI'
(Other definitions for origami that I've seen before include "Artwork with paper" , "newspaper folded?" , "Eastern art" , "Delicate operations" , "Japanese crane construction?" .)