Yields the Spanish received in payments (7)
I believe the answer is:
relents
'yields' is the definition.
('relent' can be a synonym of 'yield')
'the spanish received in payments' is the wordplay.
'the spanish' becomes 'el'.
'received in' indicates putting letters inside.
'payments' becomes 'rents' (rent is a kind of payment**).
'el' placed within 'rents' is 'RELENTS'.
(Other definitions for relents that I've seen before include "Abates, softens" , "Comes round" , "Becomes less severe and more lenient" , "Eases off" , "Shows mercy" .)