the GNU version of the Collaborative International Dictionary of English
n. The person to whom money is to be, or has been, paid; the person named in a bill or note, to whom, or to whose order, the amount is promised or directed to be paid. See Bill of exchange, under Bill.
The Century Dictionary and Cyclopedia
n. A person to whom money is paid or is to be paid; specifically, in law, the party in whose favor the promise or direction to pay negotiable paper is expressed.
WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
n. a person to whom money is paid
Word Usage
"A payee is an account that does not send you a bill regularly, such as a mortgage, landlord, or car payment."