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 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. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Money transfer is a matter of minutes, at any distance. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. In 1933, by the Western Union Company were invented "singing telegrams". As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.
Western union sending money to Kyrgyzstan
By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Money transfer is a matter of minutes, at any distance. 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.
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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. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services.