The Collaborative International Dictionary of English v.0.48:

Pay \Pay\ (p[=a]), v. i.
   To give a recompense; to make payment, requital, or
   satisfaction; to discharge a debt.
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         The wicked borroweth, and payeth not again. --Ps.
                                                  xxxvii. 21.
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   2. Hence, to make or secure suitable return for expense or
      trouble; to be remunerative or profitable; to be worth the
      effort or pains required; as, it will pay to ride; it will
      pay to wait; politeness always pays.
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   To pay for.
      (a) To make amends for; to atone for; as, men often pay
          for their mistakes with loss of property or
          reputation, sometimes with life.
      (b) To give an equivalent for; to bear the expense of; to
          be mulcted on account of.
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                'T was I paid for your sleeps; I watched your
                wakings.                          --Beau. & Fl.
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   To pay off. [Etymol. uncertain.]
      (a) (Naut.) To fall to leeward, as the head of a vessel
          under sail.
      (b) to repay (a debt).

   To pay on. [Etymol. uncertain.] To beat with vigor; to
      redouble blows. [Colloq.]

   To pay round [Etymol. uncertain.] (Naut.) To turn the
      ship's head.
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The Collaborative International Dictionary of English v.0.48:

Pay \Pay\ (p[=a]), v. t. [OF. peier, fr. L. picare to pitch, pix
   pitch: cf. OF. peiz pitch, F. poix. See Pitch a black
   substance.] (Naut.)
   To cover, as bottom of a vessel, a seam, a spar, etc., with
   tar or pitch, or waterproof composition of tallow, resin,
   etc.; to smear.
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The Collaborative International Dictionary of English v.0.48:

Pay \Pay\, v. t. [imp. & p. p. Paid (p[=a]d); p. pr. & vb. n.
   Paying.] [OE. paien, F. payer, fr. L. pacare to pacify,
   appease, fr. pax, pacis, peace. See Peace.]
   1. To satisfy, or content; specifically, to satisfy (another
      person) for service rendered, property delivered, etc.; to
      discharge one's obligation to; to make due return to; to
      compensate; to remunerate; to recompense; to requite; as,
      to pay workmen or servants.
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            May no penny ale them pay [i. e., satisfy]. --P.
                                                  Plowman.
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            [She] pays me with disdain.           --Dryden.
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   2. Hence, figuratively: To compensate justly; to requite
      according to merit; to reward; to punish; to retort or
      retaliate upon.
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            For which, or pay me quickly, or I'll pay you. --B.
                                                  Jonson.
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   3. To discharge, as a debt, demand, or obligation, by giving
      or doing what is due or required; to deliver the amount or
      value of to the person to whom it is owing; to discharge a
      debt by delivering (money owed). "Pay me that thou owest."
      --Matt. xviii. 28.
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            Have patience with me, and I will pay thee all.
                                                  --Matt. xviii.
                                                  26.
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            If they pay this tax, they starve.    --Tennyson.
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   4. To discharge or fulfill, as a duy; to perform or render
      duty, as that which has been promised.
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            This day have I paid my vows.         --Prov. vii.
                                                  14.
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   5. To give or offer, without an implied obligation; as, to
      pay attention; to pay a visit.
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            Not paying me a welcome.              --Shak.
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   To pay off.
      (a) To make compensation to and discharge; as, to pay off
          the crew of a ship.
      (b) To allow (a thread, cord, etc.) to run off; to unwind.
      (c) to bribe.

   To pay one's duty, to render homage, as to a sovereign or
      other superior.

   To pay out (Naut.), to pass out; hence, to slacken; to
      allow to run out; as, to pay out more cable. See under
      Cable.

   To pay the piper, to bear the cost, expense, or trouble.
      [Colloq.]
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The Collaborative International Dictionary of English v.0.48:

Pay \Pay\, n.
   1. Satisfaction; content. --Chaucer.
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   2. An equivalent or return for money due, goods purchased, or
      services performed; salary or wages for work or service;
      compensation; recompense; payment; hire; as, the pay of a
      clerk; the pay of a soldier.
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            Where only merit constant pay receives. --Pope.
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            There is neither pay nor plunder to be got.
                                                  --L'Estrange.
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   Full pay, the whole amount of wages or salary; maximum pay;
      especially, the highest pay or allowance to civil or
      military officers of a certain rank, without deductions.


   Half pay. See under Half.

   Pay day, the day of settlement of accounts.

   Pay dirt (Mining), earth which yields a profit to the
      miner. [Western U.S.]

   Pay office, a place where payment is made.

   Pay roll,
      (a) a roll or list of persons entitled to payment, with
          the amounts due; now usually one word, payroll.
      (b) the total sum of money which is paid to all employees
          on payday.
          [1913 Webster +PJC]

WordNet (r) 3.0 (2006):

pay
    n 1: something that remunerates; "wages were paid by check"; "he
         wasted his pay on drink"; "they saved a quarter of all
         their earnings" [syn: wage, pay, earnings,
         remuneration, salary]
    v 1: give money, usually in exchange for goods or services; "I
         paid four dollars for this sandwich"; "Pay the waitress,
         please"
    2: convey, as of a compliment, regards, attention, etc.; bestow;
       "Don't pay him any mind"; "give the orders"; "Give him my
       best regards"; "pay attention" [syn: give, pay]
    3: cancel or discharge a debt; "pay up, please!" [syn: pay up,
       ante up, pay] [ant: default, default on]
    4: bring in; "interest-bearing accounts"; "How much does this
       savings certificate pay annually?" [syn: yield, pay,
       bear]
    5: do or give something to somebody in return; "Does she pay you
       for the work you are doing?" [syn: pay, pay off, make
       up, compensate]
    6: dedicate; "give thought to"; "give priority to"; "pay
       attention to" [syn: give, pay, devote]
    7: be worth it; "It pays to go through the trouble"
    8: render; "pay a visit"; "pay a call"
    9: bear (a cost or penalty), in recompense for some action;
       "You'll pay for this!"; "She had to pay the penalty for
       speaking out rashly"; "You'll pay for this opinion later"
    10: make a compensation for; "a favor that cannot be paid back"
    11: discharge or settle; "pay a debt"; "pay an obligation"