An end user is the individual or organisation that uses an electronic payment instrument within a payment scheme or comparable arrangement to transfer value. Depending on the transaction, the end user may initiate the payment, receive the funds, or perform both roles. The designation applies to the user of the instrument, not to the institutions that operate the scheme or process the payment.
Source: European Central Bank (ECB) (source). This glossary entry is an independently worded adaptation of the cited information.