In electronics a Pad is slang for attenuator.
To attenuate a signal is to reduce its level.
There may be some changes in impedance between the input and output of a pad, if either poorly designed, or if intended to also act as an impedance matching device.
In actuality, a pad should not change impedance, but an impedance matching circuit will attenuate a signal, thus acting like a pad.
In an instrument amplifier, the intent of the pad is to reduce the incoming signal from an instrument with a hotter than normal output. It is NOT intended to be used as an impedance matching device. Impedances between instruments and amplifiers does not require matching as may be needed with a tube amplifier output. If there is any impedance change in the process of switching in the pad, it is unintentional, and insignificant relative to the other impedances involved.