Overpay (verb)

1. To give more money or compensation than what is required or what is fair.
2. To make a payment that exceeds the value of what is being paid for.

Origin:

The word 'overpay' is derived from the words 'over' meaning above or in excess and 'pay' meaning to give money or compensation.

Examples:

1. She overpaid for the dress because she didn't know the price.
2. He overpaid the contractor for the work that was done.
3. The company overpaid for the equipment because they didn't do their research.
4. The worker overpaid for the supplies because he was in a hurry.
5. She overpaid for the tickets because she thought it was the only way to get in.