/ Dictionary / Index P payback: Meaning and Definition of Find definitions for: pay•back Pronunciation: (pā'bak"), [key] — n. the period of time required to recoup a capital investment. the return on an investment: a payback of 15 percent tax-free. the act or fact of paying back; repayment. something done in retaliation: a really vicious payback for years of being snubbed. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. See also: payback (Thesaurus) pay-as-you-go paybox Related Content Daily Word Quiz: spectral Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language