In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. 1970 - a new service called In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. The Western Union Company is a financial services and communications company based in the United States. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. 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. Western Union for more than 130 years provides money transfer services to its customers.