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In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company. America was on the verge of civil war and needed a reliable connection between the North and South. On the telegraph market of the USA at this time were operated with six large companies: American Telegraph Company, New York Albany and Buffalo Electro-Magnetic Telegraph Company, Atlantic and Ohio Telegraph, Illinois & Mississippi Telegraph Company, New Orleans & Ohio Telegraph Company, and the brainchild of Sibley & Co. - The Western Union Telegraph. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. Separation of the companies had two objectives: first, to give Western Union the opportunity to develop more intensively, and secondly, to help First Data to return to its original activity (in 1992 the company separated from the payment system of American Express as an independent financial services company). Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news.


Western union sending money to Armenia

In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. Separation of the companies had two objectives: first, to give Western Union the opportunity to develop more intensively, and secondly, to help First Data to return to its original activity (in 1992 the company separated from the payment system of American Express as an independent financial services company). America was on the verge of civil war and needed a reliable connection between the North and South. On the telegraph market of the USA at this time were operated with six large companies: American Telegraph Company, New York Albany and Buffalo Electro-Magnetic Telegraph Company, Atlantic and Ohio Telegraph, Illinois & Mississippi Telegraph Company, New Orleans & Ohio Telegraph Company, and the brainchild of Sibley & Co. - The Western Union Telegraph.


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Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. The size of the commission fee for the transfer is charged according to the Western Union tariffs and depends on the amount of money sent. The Western Union Company is a leader in global payment services 1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. Another invention of Western Union - time synchronization. In 2000 was launched the Web site westernunion.com, with which users from certain countries can independently transfer funds online. In 1933, by the Western Union Company were invented "singing telegrams".