Payee

The payee is the individual, business, or entity that receives the payment from the payer. They are the intended recipient of the funds and the party to whom the payment is directed. The payee’s account or payment instrument is credited with the transferred funds, increasing their available balance or confirming the payment received. The payee may be required to provide relevant payment information to the payer, such as an invoice or payment reference, to facilitate accurate and timely payment allocation.