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. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. 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. Money transfer is a matter of minutes, at any distance. On the market was placed about 765 million of ordinary shares of the company. On the first day trading on the exchange the company's shares rose by 3.3% and the cost was $ 19.96. 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.
Western union sending money to Oman
In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. 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 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time.
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America was on the verge of civil war and needed a reliable connection between the North and South. On the telegraph market of the USA at this time were operated with six large companies: American Telegraph Company, New York Albany and Buffalo Electro-Magnetic Telegraph Company, Atlantic and Ohio Telegraph, Illinois & Mississippi Telegraph Company, New Orleans & Ohio Telegraph Company, and the brainchild of Sibley & Co. - The Western Union Telegraph. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. The size of the commission fee for the transfer is charged according to the Western Union tariffs and depends on the amount of money sent. To obtain the Golden card can any client of Western Union, committing money transfers on this system more than 1 time per year. Getting the card is issued at the time of making of the next transfer. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 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. On the market was placed about 765 million of ordinary shares of the company. On the first day trading on the exchange the company's shares rose by 3.3% and the cost was $ 19.96. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.