As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. 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. One of the common kinds of money transfer is a transfer via the international system of Western Union. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world. 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.