What "money order" means in finance

A money order is a payment instrument that is similar to a check but is considered more secure since it is prepaid and issued by a third-party organization such as a bank or a post office. It is typically used for payments where the recipient does not accept personal checks or where a more secure form of payment is required. Money orders can be purchased for a set amount and can be used to make payments domestically or internationally. They require the purchaser to provide their personal information, the recipient's name, and the payment amount.