In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. Another invention of Western Union - time synchronization. The Western Union Company is a leader in global payment services In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. Thanks to cooperation with Western Union the Associated Press at the end of the XIX century took almost monopolistic position in the U.S. market news. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders.