The paychest is a heavy, iron-bound, secure-looking affair that the Paymaster brings to battle during extended expeditions, carried by two burly bodyguards. The presence of it reminds the mercenaries even more what they are fighting for, and inspires them to greater deeds.
Source: Warhammer Armies Project: Unofficial 9th Edition (v2.2)
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The Paymaster may be accompanied by a Paychest guarded by two Paychest Bodyguards which increases his Unit Strength by 2. This can be represented by either modelling the Paymaster with the Paychest and guards on a single base, or as a separate model placed in base contact with the Paymaster at all times (it may be placed in the second rank of a unit if you wish). The Paychest increases the radius of the Paymaster's Hold Your Ground! special rule by 6".
If the Paymaster is killed, all friendly units gain the Hatred special rule against the enemy unit or model that killed the Paymaster due to their Paychest now being able to be looted.