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.
Western union sending money to Bangladesh
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.
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In 1920, Western Union has implemented the world's first transmission of images over the ocean. The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world. 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. In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars.