The pay chest is taken into battle so that Paymaster Mydas can keep an eye on its whereabouts. Sheikh Yadosh, a wealthy Arabian moneylender who has accompanied Mydas since his days in Sartosa, is given the task of keeping the pay chest secure during battle. Placed on a light carriage ridden by Sheikh Yadosh, the pay chest inspires acts of heroism and bravery amongst mercenaries, hoping that by such acts they will be paid a bonus.
Source: Warhammer Fantasy: 7th Edition
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The pay chest counts as a chariot in all respects, with the following exceptions. When the pay chest charges into combat, it inflicts only D3 impact hits. Also, any friendly units within 6" of the pay chest may re-roll any failed Psychology tests. The pay chest has an armour save of 5+. The pay chest may act as a separate unit from Mydas and his bodyguard on the battlefield.