For many English students, the verb 'pay' is likely to be familiar in the context of exchanging money for an item or service. We can see examples of that in the video with regards to the collocations 'pay a fine,' pay interest on,' 'pay by credit card/cash,' and 'pay the bill.' However, that is not the only way this verb can be used, as the video also shows.
Another common concept is that of giving or offering somebody something. For example, when you 'pay respect to' someone, you offer them a greeting, or, depending on the situation, your sympathy and condolences, when you 'pay somebody a compliment,' you give them praise, when you 'pay attention to' someone, you give them your attention, and when you 'pay somebody back,' you give them something in return for something they had previously given or done for you.
So, as you can see, collocations with 'pay' have a variety of uses and are common in both a social and professional context.