Definition

A person or organization that makes a payment, especially in a financial context.

Example

The payor is responsible for settling the invoice by the due date.

Conversation

I just learned about the term payor in my finance class.

Oh really? What does it mean?

It refers to the person or entity that makes a payment, like a payer.

That makes sense! I guess it’s important to know in business.

Synonyms & Antonyms

Root Explanation

Payor → The word is formed from "pay" (from Old French *paier*, meaning to pay or settle a debt) and the suffix "-or" (meaning one who). A payor is one who pays or settles a debt.

Memory Tip

Think of someone who 'settles a debt' ('pay') — the '-or' indicates a person. So, a payor is simply a person who pays.

Visually Confused Words