- Payee – the party in the exchange of goods and services that receives the payment.
- The payee provides goods and services to the payer, who receives them through an exchange of value (most often money).
- Payees can also be more than one party to a transaction, and sometimes the same party.
- The Social Security Administration may appoint a beneficiary representative if it believes that the beneficiary cannot be trusted or is unable to manage his own funds.