Definition of "payer" in English

noun

1. One who pays; specifically, the person by whom a bill or note has been, or should be, paid.

   • The company is the largest tax payer in the region.
   • Health insurance depends on both the payer and the provider.

2. (finance) A swaption which gives its holder the option to enter into a swap in which they pay the fixed leg and receive the floating leg.