ELI5: Explain Like I'm 5

Payments UK

Hello there! Payments UK is an organization that helps people send and receive money in the United Kingdom. Just like how you give your friend some candies and they give you a toy, payments UK helps people give and receive money from each other.

Now, the way people send and receive money can be very complicated, but payments UK makes it easier. They make rules that banks and other companies have to follow to make sure that your money ends up where it's supposed to go. Think of it like making rules for a game so everyone knows how to play fairly.

Payments UK also helps people use new ways to send and receive money, like using your phone to pay for things or sending money online. They make sure everything is safe and secure so bad people can't steal your money.

So, in summary, Payments UK helps people send and receive money in a safe and fair way. They make sure everyone follows the rules and uses new, easy ways to send and receive money.