Payment systems are one of basic elements of infrastructure of e-commerce. In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data.
Western union sending money to Sri Lanka
In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million.
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Western Union made so that the time in all of American civil services was the same. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. The presence of Western Union Gold Card at the client greatly simplifies the process of further processing of money transfers of and reduces the operation time for the sending of money, as the "Gold Card" is a carrier of the personal information about the client. America was on the verge of civil war and needed a reliable connection between the North and South. On the telegraph market of the USA at this time were operated with six large companies: American Telegraph Company, New York Albany and Buffalo Electro-Magnetic Telegraph Company, Atlantic and Ohio Telegraph, Illinois & Mississippi Telegraph Company, New Orleans & Ohio Telegraph Company, and the brainchild of Sibley & Co. - The Western Union Telegraph. 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. The project of congressmen involved the construction of lines with the length of two thousand miles in 10 years. Western Union handled the government task within 112 days. The secret of Sibley was simple: he used the tactics of the "Western Union". Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. One of the common kinds of money transfer is a transfer via the international system of Western Union. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. In the 80's of Nineteenth century, Western Union was repeatedly tried capture by the railroad tycoon Jay Gould. He worked with Alexander Graham Bell, inventor of the first phone.