payor. The payee is the person who receives money from the payor. The payor is the person who pays the money to the payee. In some situations, such as when writing a check to yourself, the payee and payor can be the same person.Read Payor vs Payee | Definition, Differences & Examples...
The typical transaction involves a payor and payee working in unison to exchange cash for goods or services, but which is which?