Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. In 1935, Western Union has put into operation first intercity fax communication. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. Money transfer is a matter of minutes, at any distance. The Western Union Company uses the most up to date technologies and its unique worldwide computer network that allows to carry out quick money transfers payments in more than 190 countries around the world.
Western union sending money to Sri Lanka
In 1935, Western Union has put into operation first intercity fax communication. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. 1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service.
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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. In the Western Union in the 30s of the 20th century worked 14 thousand couriers delivering telegrams. In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Payment systems are one of basic elements of infrastructure of e-commerce. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland). The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - In October 1871 the company Western Union began to provide money transfer services, drawing on its own extensive telegraph network.