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"payer of" is correct and usable in written English.
You can use it when you are referring to someone who is paying for something or paying a debt. For example, "John is the payer of the rent this month."
Exact(58)
The report said AWB had been the largest payer of kickbacks to the Hussein government.
Sainsbury's is already the best payer of the big four supermarkets.
Previously unknown, the tall, footed cup graces the stand of Fritz Payer of Zurich.
It would also completely overhaul the health coverage system, creating a single federal payer of state-administered health plans.
It replaced the consumer staples sector, which had been the largest payer of dividends for the previous three years.
A state has no property right in an individual, as if he were a mere payer of dues and taxes.
VLADIMIR TOMASEVIC Payer of Compliments Vladimir Tomasevic would find a way to offer a compliment even when a compliment might seem a bit of a stretch.
One official was jailed for life, although Rolls-Royce was not named as the payer of the bribe in the court case.
Oil and gas last year overtook banking as the biggest payer of corporate tax, contributing £7.8 billion ($15.6 billion) to the exchequer.
Do we want a single, nationwide payer of care (Medicare for all), each state to have its own payer of care (Medicaid for all), a nationwide marketplace where we all choose among a selection of health plans (Healthcare.gov for all), or personal accounts that we can use to pay directly for health care (Health Savings Accounts for all)?
But AXA's incoming CEO Buberl had been promoting a redesign of its health business, arguing that insurance must change from being a payer of bills to a helper of clients toward healthier life choices incurring fewer health costs.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com