As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. The Western Union Company is a leader in global payment services 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 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.