In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. Another invention of Western Union - time synchronization. Money transfer is a matter of minutes, at any distance. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 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 made so that the time in all of American civil services was the same. 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.