Who is considered a 'Buyer' in the context of business transactions?

In the context of business transactions, a 'Buyer' is defined as a business customer or payer because this role involves the purchasing decision and financial responsibility associated with acquiring goods or services. A business customer engages in transactions as an entity rather than as an individual consumer, emphasizing their role in the commerce ecosystem where they typically handle larger volumes or values of transactions and often negotiate terms of sale.

The distinction between a business customer and other entities is crucial; while a retail customer is an individual making purchases for personal use, the business customer acts on behalf of an organization, often involving more complex considerations such as procurement processes and contractual obligations. Meanwhile, a service provider typically offers services rather than being directly engaged in purchasing, and an internal corporate team does not represent a buying entity in transactions with external suppliers but may operate within the framework of the business already engaged as a buyer. Hence, recognizing the specific role of a business customer as a 'Buyer' aligns with understanding the dynamics of transactions in a professional context.