Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Payment systems are one of basic elements of infrastructure of e-commerce. One of the common kinds of money transfer is a transfer via the international system of Western Union.