It's paid for attention (4)

I believe the answer is:
heed
'attention' is the definition.
(taking heed is paying attention)
'it's paid' is the wordplay.
I cannot really understand how this works, but
'it' could be 'e' ('e' can mean 'electronic' which is similar to 'IT') and 'e' is located in the answer.
The remaining letters 'hed' is a valid word which might be clued in a way I don't understand.
This explanation may well be incorrect...
'for' acts as a link.
Can you help me to learn more?
(Other definitions for heed that I've seen before include "Obey" , "Take account of" , "Mark" , "Consider" , "Take note of" .)
