In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. 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. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Payment systems are one of basic elements of infrastructure of e-commerce. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide.
Western union sending money to Sierra Leone
In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. Payment systems are one of basic elements of infrastructure of e-commerce. 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.
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In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. In the early 60s Western Union has put into operation transcontinental microwave system of data transmission via radio waves, completely replacing the web of telegraph poles and wires. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. 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.