Meaning of the word payer in English

What does payer mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

payer

US /ˈpeɪ.ɚ/
UK /ˈpeɪ.ər/

Noun

a person or organization that pays money to someone or for something

Example:
The insurance company is the payer of the claim.
As a regular payer, he expects good service.