Payment systems are one of basic elements of infrastructure of e-commerce. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. Money transfer is a matter of minutes, at any distance. Most service points of Western Union work in the time convenient for customers throughout the week and throughout the year. Before transition to remittances Western Union company rendered services on sphere of cable communication.
July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company.