1998 - the number of points of money transfers worldwide reached 50,000. The network of money transfers of Western Union is the world's largest. The Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. Another invention of Western Union - time synchronization. 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. 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.