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A paymaster is a neutral third party and has no knowledge of any particulars of the transaction. They handle the incoming commissions, and then disburses the funds accordingly. In return for their services the paymaster charges a small fee, which is paid directly to them out of the commission proceeds prior to disbursement.
Paymaster Corporation was a Chicago-based company that manufactured and sold the Paymaster mechanical check writers, which could be found at post office branches, financial institutions, and small businesses in North America throughout the twentieth century.
The first check protector was introduced in 1870. The best known check protectors in the early 1900s had the brand name Protectograph (the Todd Company, Rochester, NY). [citation needed] Other well known manufacturers in the industry were F & E Hedman and the Paymaster Company (both out of Chicago, IL). [5]
The Finance Corps traces its foundation to 16 June 1775, when the Second Continental Congress established the office of Paymaster General of the Army. [1] The Pay Department became a separate department in 1816, and the Finance Department was created by law on 1 July 1920. [2] [1] It became the Finance Corps in 1950. [3]
The office of the Paymaster General was created through a resolution of the Continental Congress on 16 June 1775, which established "That there be one Paymaster General, and a Deputy under him, for the Army, in a separate department; that the pay for the Paymaster General himself be one hundred dollars per month, and for the Deputy Paymaster under him, fifty dollars per month."
The company was founded in 1958 and today is New York’s largest provider of check cashing and financial services, [2] handling nearly 20 million transactions annually. [ 1 ] PAYOMATIC provides check cashing services, money transfers, money orders, bill payments, prepaid debit cards and a variety of other convenience services. [ 1 ]
She is perhaps best known for having founded Paymaster (Jamaica) Limited, an online bill payment system which she conceptualized and started in 1997. Paymaster operates payment agencies from which all types of bill payments and remittances can be made and is the first multi-transaction agency in the Caribbean .
This category is for persons who have held the position of paymaster. Subcategories. This category has the following 3 subcategories, out of 3 total. F.
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