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 1935, Western Union has put into operation first intercity fax communication. Leaving the idea of expansion into Europe, Western Union took up the expansion of services in the U.S. market. In 1864, fearing the laying of long underwater lines, Western Union offered to carry out laying of telegraph lines to Europe through the Russian Alaska under the narrow Bering Strait and then to Siberia with branching in the major cities of Europe. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp. In the 1910-1920 years. Western Union is actively engaged in researching, innovating in the field of data transmission.