In 1856, in 7 years after the foundation of New York State Printing Telegraph Company, the company changed its name to Western Union Telegraph Company. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone.
Western union sending money to Uganda
In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. In the early forties of the 20th century, Western Union has used the first time a commercial intercity microwave transmission system.
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July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union for more than 130 years provides money transfer services to its customers. 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. Money transfer is a matter of minutes, at any distance. One of the common kinds of money transfer is a transfer via the international system of Western Union. 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.