As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. Another invention of Western Union - time synchronization. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide.