Payment systems are one of basic elements of infrastructure of e-commerce. Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. In 1920, Western Union has implemented the world's first transmission of images over the ocean. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. Money transfer is a matter of minutes, at any distance. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. The Western Union Company is a financial services and communications company based in the United States. 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. Before transition to remittances Western Union company rendered services on sphere of cable communication.
In 1920, Western Union has implemented the world's first transmission of images over the ocean. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008.