Making Entity Class Closed for Changes

For the problem that @Lijo tries to solve the abstract approach would be better

I think you can make a partial class on the CashPayment type that implements your own IPayment interface, which can be used through the whole application. This interface can then also be on CreditCardPayment:

Example:

public interface IPayment
{
     int Id { get; set; }
     int PaymentId { get; set; }
     //Other payment specific properties or methods
}

public partial class CashPayment : IPayment
{
    public int Id 
    {
       get { return CashPaymentId ; }
       set { CashPaymentId = value; }
    }

    //Other properties

}

public partial class CreditCardPayment : IPayment 
{
   //more code ...
}

Something on your EF context to get all payments

public partial class PaymentEntities //The name of your EF entities
{
   public IQueryable AllPayments
   {
      return this.CashPayment.Union(this.CreditCardPayment); //This is not good, but just an example. The abstract class approach would be better here.
   }

    public void InsertPayment(IPayment payment)
    {
         this.AddObject(payment.GetType().Name, payment);
    }
}