noun🔗ShareOne who pays; specifically, the person by whom a bill or note has been, or should be, paid."The payer of the electricity bill is my father, since it's his responsibility to pay for the house's energy usage. "personbusinessfinanceeconomyChat with AIVocabulary GamePractice Reading
noun🔗ShareA swaption which gives its holder the option to enter into a swap in which they pay the fixed leg and receive the floating leg."The bank purchased a payer swaption to hedge against rising interest rates; if rates go up, they will exercise their option to pay a fixed interest rate and receive a higher floating rate. "financebusinessChat with AIVocabulary GamePractice Reading
