The invention relates to the field of electronic payment, and provides an order automatic decomposition and multi-mode payment method and a payment terminal applying the method. The payment terminal comprises a touch display screen, a center processing device, a power device, a standby emergency battery device, a commodity scanning device, a gravity sensing device, a bill scanning device, a voice playing device, a POS paying device and a bill printing device. The method is a method for realizing multiple payment mediums or multiple payment modes by automatically decomposing an order into a plurality of sub-orders, and comprises the following steps: S1, a to-be-paid order is received; 2, payment is failed due to insufficient fund of a user; S3, the user confirms automatic decomposition of the order; S4, a plurality of payment sub-orders are re-generated; S5, payment sub-orders are confirmed and paid; and S6, all payments are completed to finish transaction. The payment method and the payment terminal are especially suitable for the situation that a user carries scattered total amount of payment mediums, so that smooth transaction payment can be ensured, and the payment efficiency can be improved; and by combining with random payment switching of multiple payment mediums or multiple payment modes, unnecessary payment process is reduced, and application is facilitated. The payment method and the payment terminal are a reforming tendency in the field of electronic payment, and have a wide commercial prospect.