Paymaster \Pay"mas`ter\, n. One who pays; one who compensates, rewards, or requites; specifically, an officer or agent of a government, a corporation, or an employer, whose duty it is to pay salaries, wages, etc., and keep account of the same.

Source: Webster's Revised Unabridged Dictionary (1913)
 

Purser \Purs"er\, n. [See Purse, and cf. Bursar.]

1. (Naut.) A commissioned officer in the navy who had charge of the provisions, clothing, and public moneys on shipboard; -- now called paymaster.

2. A clerk on steam passenger vessels whose duty it is to keep the accounts of the vessels, such as the receipt of freight, tickets, etc.

3. Colloquially, any paymaster or cashier.

Purser's name (Naut.), a false name. [Slang]

Source: Webster's Revised Unabridged Dictionary (1913)