1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. Payment systems are one of basic elements of infrastructure of e-commerce. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. The Western Union Company is a financial services and communications company based in the United States. 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 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.