This is the 448th most frequent Spanish word.
pagar
To pay.
This usage illustrates its basic meaning as 'to pay' monetarily for something.
Yo pago la cuenta en el restaurante.
I pay the bill at the restaurant.
Here it is used metaphorically to mean 'to face the consequences' of something.
En la vida, debes pagar por tus errores.
In life, you must pay for your mistakes.
This shows the usage of the word in reference to the payment methods being acceptable forms of transaction.