Member only pages and customers

I’d like to limit a page to only paying customers (I want to give them exclusive access to a collection of products). On the page’s Permissions settings, there’s an option for “Only selected members or paying customers”. If I don’t provide anyone else the opportunity to become a member, will only paying customers be able to access this page? Maybe it’s obvious, but the help document simply doesn’t define a “paying customer” nor discuss their permissions (very frustrating).
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