Yes, you can.
This sentence can both mean that they will pay some money they owe (01) or that they will pay for their actions (02). It is just as in English.
(01) I will pay it in cash ("pagarei em dinheiro");
(02) Many people paid with their lives during the war ("muitas pessoas pagaram com suas vidas durante a guerra"); You will pay for having disrespected me ("você pagará por ter me desrespeitado);
* There is an expression that I do not know if there is any equivalent in English that says "aqui se faz, aqui se paga" (here you do/act, here you pay) wich means something like: everything evil that you do to people will turn against you after all. Or, in other words, life will make you pay for everything evil you have done while you are still alive. You did it in this world, you will pay for your acts here in this world.