Payor

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August 31, 2024 3 min read Definitions

Finance Banking Economics Payor Payments Finance Banking Economics

An In-Depth Exploration of the Payor: An Entity Responsible for Making Payments

August 25, 2024 4 min read Definitions

Money Order: Easily Convertible Financial Instrument

Finance Banking Money Order Financial Instrument Payee Payor Payment

A money order is a financial instrument that can be easily converted into cash by the payee named on the money order. Money orders list both the payee and the purchaser, known as the payor. They are issued by banks, telegraph companies, post offices, and travelers' check issuers to individuals presenting cash or other forms of acceptable payment.