Payment Agent
/ˈpeɪmənt ˈeɪdʒənt/
Definitions
- (n.) An entity authorized to receive, process, or disburse payments on behalf of another party under a contractual arrangement.
The payment agent handled all rent collections for the property owner.
Forms
- payment agent
- payment agents
Related terms
See also
Commentary
A payment agent often acts as an intermediary in financial transactions to streamline payment processing and reduce counterparty risk.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.