Payne signed the deal with Captial Records and Cowell, 56, is not happy with his decision to leave his Simon's Syco label, reported Digital Spy.
"It is a bit annoying if I am honest with you - mainly because it is a another label who has now got your artist who you worked with for so many years.
"But that is the music business, unfortunately. I don't think anyone else from the band will do that," The "X Factor" creator said.
Harry Styles recently signed his own huge solo deal with Columbia, while Niall Horan has also apparently decided to stay put as part of Simon Cowell's Syco record label.
Even Zayn Malik signed with Sony's RCA when he went solo last year.
Cowell added that the 1D member's decision to sign a solo record came as a bit of a shock as he didn't show any interest in it to the music boss beforehand.
"We had spoken a lot - him and I - about what he wanted to do next. My impression was that he wasn't in any hurry to make a record because he discussed this last year. He was more into songwriting.
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