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TeachMeFinance.com - explain pay pay -- to compensate, reimburse, or satisfy an obligation by giving over something of value, such as money. historic definition... Pay -- Remuneration; recompense. The term also applies to the reputation of a person for keeping his financial engagements, as he is good pay or bad pay, sure pay or slow pay, etc. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.