No wonder you're asking. Remit is one of these oddly ambiguous words that means two almost opposite things:
"remit verb past tense: remitted; past participle: remitted rɪˈmɪt/
1. cancel or refrain from exacting or inflicting (a debt or punishment).
"the excess of the sentence over 12 months was remitted"
synonyms: cancel, set aside, revoke, repeal, rescind, abrogate, suspend More
"the fines imposed on the Earl of Lancaster were remitted"
Theology: forgive (a sin).
"God's act of remitting the sins of guilty men"
synonyms: pardon, forgive; excuse, overlook, pass over
"remitting their sins"
2.
send (money) in payment or as a gift.
"the income they remitted to their families"
synonyms: send, dispatch, forward, transmit, convey;"
However, if I was told a payment had been remitted, I'd expect a payment - mabye it takes a wee while to show up in your PayPal account?