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. Payment systems are one of basic elements of infrastructure of e-commerce. The Western Union Company is a leader in global payment services In 1933, by the Western Union Company were invented "singing telegrams". In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. 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 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones.