The specific epithet ferruginea means 'rust-coloured', referring to the indumentum.

[3] Payena ferruginea grows up to 35 metres (110 ft) tall with a trunk diameter of up to 75 cm (30 in).

[3] Payena ferruginea has been assessed as least concern on the IUCN Red List.

However, forests in Borneo are threatened by logging and mining and by conversion of land for rubber and palm oil production.

The species is present in some protected areas, such as Ulu Temburong National Park in Brunei.