Which term describes the end beneficiary in a payment transaction?

The term that accurately describes the end beneficiary in a payment transaction is the payee. The payee is the individual or entity that receives the payment as a result of a transaction. In most payment contexts, the payee is the party that is entitled to receive funds from the payer, who is the one making the payment.

Understanding this distinction is critical in payment systems, as it clarifies the parties involved in any financial exchange. The role of a payee encompasses various scenarios, such as being the vendor in a sale, the service provider in a contract, or an individual receiving funds in a personal transaction. The identification of the payee is essential for ensuring that the payments are correctly directed and that the appropriate entities receive their due funds.

In contrast, terms like remitter, payer, and sender can refer to other roles in a transaction. The remitter typically indicates the party that initiates the payment, often synonymous with the payer. The sender is usually used in the context of transferring funds but does not specify the beneficiary status. Thus, recognizing the payee's role helps in understanding the flow of transactions and responsibilities of the involved parties.