PokéBase - Pokémon Q&A
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1 Answer

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as Wi-Fi battles don't give money, period. As they also do not consume items (consumed items come back) these battles are made to have no reward or consequence.

Source: Experience

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"Pay Day does damage and scatters coins on the ground with a value equal to twice the user's level for each time it is used. These coins are picked up afterwards if the player wins the battle."

Actually, it doesn't double the prize money, it rewards you money equivalent to 2X(5X from gen III on) of the users level.
I still agree that it doesn't reward prize money though.
Wth -1 for answering right?
K done
It's wrong...
I want to say I wasn't the one who downvoted, to avoid any mix ups and so Scraf doesn't hold anything against me.
This is kinda a noobish question. I mean, it's been known for the longest of all times!