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Payment systems are one of basic elements of infrastructure of e-commerce. In 1920, Western Union has implemented the world's first transmission of images over the ocean. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). The Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. One of the common kinds of money transfer is a transfer via the international system of Western Union. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.


Western union sending money to Greece

In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). In 1920, Western Union has implemented the world's first transmission of images over the ocean.


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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. Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. Another invention of Western Union - time synchronization. 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. In the 80's of Nineteenth century, Western Union was repeatedly tried capture by the railroad tycoon Jay Gould. He worked with Alexander Graham Bell, inventor of the first phone.