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. Money transfer is a matter of minutes, at any distance. 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. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network. Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.