1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. Payment systems are one of basic elements of infrastructure of e-commerce. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company.