Definition, Meaning & Synonyms
payer
noun
[peɪər]
Definition
A person or organization that pays money owed for goods or services.
Examples
- The payer is responsible for making monthly payments on the loan.
- In healthcare, the insurer often acts as the payer for medical services.
- Many freelancers request a deposit from the payer before starting work.
Meaning
In finance and business, a payer is any individual or entity that makes a payment, typically in exchange for products, services, or upon fulfilling a financial obligation.
Synonyms
- payer
- debtor
- spender
- customer
- client
