order on the issuer to pay a certain sum of money upon demand to the person named in the money order. Money orders provide a means of safe, fast, and convenient transmission of small sums of money. They are issued by sovereign governments (usually postal authorities), banks, and other qualified institutions to buyers who pay the issuer the face amount of the money order plus a service charge. Because of the unquestionable ability of the issuer to exchange the money order for cash upon demand, money orders are a generally accepted means of payment. The American Express Company, which began issuing money orders in 1882, is the largest nonbank issuer; its money orders are used throughout the world.