As far as I know, there is only one family Payeken, from Bremen, Germany. The name exists in spelling varieties (Payeken, Pajeken, Payken) but it is all the same family. One Eleonora Payeken married one Hinrich Meyer, according to a family tree of the family, prepared by Helene Pajeken (daughter of Julius Pajeken, son of Clemens Pajeken). The tree shows that this couple used the double name "Meyer-Payeken" for their child Gerhard Meyer-Payeken. According to what my grandmother, Maria Pajeken, (born Schröder), told me about it, there were more Meyer-Payekens, Gerhard Meyer-Payeken was not the only one). She told me all the Meyer-Payekens (from this generation) come from this couple and one of them went to America. The reason they choose this double name is that Meyer is a very common name in Germany, while Payeken is very special. I think further evidence that the match is correct is the re-occurrence of the name Eleonor (Eleonora is a rather uncommon name, and there are many examples in this family of names being reused through the generations, like, for example, Gerhard.
I have to recheck the dates of the persons I have added here. At the moment, I only have a rather bad copy of that family tree on whcih some of the dates are hard to read. I will make corrections and add further names later when I have access to the original again.