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1970 - a new service called In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. In 1920, Western Union has implemented the world's first transmission of images over the ocean. 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 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 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 Nepal

In 1920, Western Union has implemented the world's first transmission of images over the ocean. 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 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company.


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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. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. The project of congressmen involved the construction of lines with the length of two thousand miles in 10 years. Western Union handled the government task within 112 days. The secret of Sibley was simple: he used the tactics of the "Western Union". Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. One of the common kinds of money transfer is a transfer via the international system of Western Union.