What is a Payee?

Payee refers to the person or entity who receives payment or funds from the payer. In other words, the payee is the party who is being paid by the payer for goods or services provided.
For example, if you sell a product to someone and they pay you for it, then you are the payee and they are the payer. Similarly, if you hire someone to do work for you and you pay them for their services, then they are the payee and you are the payer.
The term "payee" is commonly used in business and financial contexts, such as on invoices, checks, and other payment documents. It is important to accurately identify the payee when making a payment to ensure that the funds are being sent to the correct party.

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