Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Payment systems are one of basic elements of infrastructure of e-commerce. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders.