1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. In 1935, Western Union has put into operation first intercity fax communication. In April 1851 companions registered in Albany New York and Mississippi Valley Printing Telegraph Company (NYMVPTC), which included founded two years before New York State Printing Telegraph Company. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. Before transition to remittances Western Union company rendered services on sphere of cable communication. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. In 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.
Western union sending money to Iraq
In April 1851 companions registered in Albany New York and Mississippi Valley Printing Telegraph Company (NYMVPTC), which included founded two years before New York State Printing Telegraph Company. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. In 1935, Western Union has put into operation first intercity fax communication.
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Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In order to increase competitiveness and market expansion of its services, Western Union launched a program of loyalty Western Union Gold Card for customers, who has repeatedly made money transfers via Western Union. In 1935, Western Union has put into operation first intercity fax communication. To obtain the Golden card can any client of Western Union, committing money transfers on this system more than 1 time per year. Getting the card is issued at the time of making of the next transfer. 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 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.