IPA: /rɪˈmɪtə/
KK: /rɪˈmɪtər/
A person or entity that sends money or payment to another, often as a form of settlement or transfer.
The remitter sent the funds to cover the invoice.
Remitter is formed from "re-" (meaning again) and "mittere" (meaning to send). The word refers to the act of sending something back or again, often in the context of returning a payment or correspondence.
Think of sending something 'again' ('re-') — that's why a remitter is someone who sends something back.