In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. 1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. 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. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. Gold Card Loyalty Program Western Union