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 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. On the market was placed about 765 million of ordinary shares of the company. On the first day trading on the exchange the company's shares rose by 3.3% and the cost was $ 19.96. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone.
Western union sending money to Greece
In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. 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 February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. 1970 - a new service called 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. Gold Card Loyalty Program Western Union Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. The Western Union Company is a leader in global payment services 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. In 1864, fearing the laying of long underwater lines, Western Union offered to carry out laying of telegraph lines to Europe through the Russian Alaska under the narrow Bering Strait and then to Siberia with branching in the major cities of Europe. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company.