In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. 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. Another invention of Western Union - time synchronization. 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. In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp.
Western union sending money to Lebanon
The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system.
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Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 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 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 the 30's of the twentieth century, Western Union has become the world's largest telegraph company. In 2000 was launched the Web site westernunion.com, with which users from certain countries can independently transfer funds online.