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The phrase "for a token payment" is correct and usable in written English.
It can be used to describe a situation where a small or nominal amount of money is exchanged, often to signify a transaction without the expectation of full value being exchanged.
Example: "The artist agreed to sell the painting for a token payment, allowing the charity to display it at their event."
Alternatives: "for a nominal fee" or "for a small charge".
Exact(7)
Except for a token payment of about 4 cents on the dollar approved by the court earlier this summer, those payments had been held up by the dispute.
As for the rest of the Rover Group — the part excluding Land Rover — BMW essentially gave it to a group of investors in 2000 for a token payment of 10 British pounds.
Fearing an imminent invasion, they offered exiles like Dante return and pardon in exchange for a token payment on the fine he had been given for alleged corruption, plus an appearance as a penitent, with bare feet and a rope around his neck.
But this may not be possible as, while Mr Belhaj has offered to settle his claim for a token payment of £1, he is demanding an apology.
There is a cooling off period for the creditors of UBIG, the Lithuanian investment bank that owns 50% of HOMFCplc, who had previously agreed to transfer the shares to BDO, for a token payment of around £100,000.
Most sane people seem to agree that scanning these books and making them available in digital form is a good idea, and the settlement even provides for a token payment of up to $60 per book to go to copyright holders.
Similar(52)
A token payment was provided in compensation for time taken.
The following year, a token payment of $10 was made for a 15-acre area on Clifton Road to house the operations.
In 2006, following a campaign calling for the case to be thrown out, the company agreed to accept a token payment of less than $1.
One day someone who owed $300 settled the debt with a token payment and 350 hubcaps.
Instead, Garnett will be offering his creditors a token payment of £1 a month.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com