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. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person. 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. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Separation of the companies had two objectives: first, to give Western Union the opportunity to develop more intensively, and secondly, to help First Data to return to its original activity (in 1992 the company separated from the payment system of American Express as an independent financial services company). In 2000 was launched the Web site westernunion.com, with which users from certain countries can independently transfer funds online. 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. 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. In the summer of 1990 top managers of the Western Union Company spent day and night in the main office in Englewood (Colorado, USA). They needed to meet the challenge: to save the Western Union from bankruptcy, paying off the debts of the company millions of dollars.
Western union sending money to United Kingdom
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. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. Each money transfer is protected with control number, that allows you to track and to ensure prompt payment of money specified by you person.
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The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - In the 30's of the twentieth century, Western Union has become the world's largest telegraph company. By 1861 Western Union telegraph lines entangled the whole America. It's time to explore Europe. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. All you need for sending money via Western Union is to go to the nearest branch of Western Union, fill out the transfer printed form, show your passport and then send money. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. 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. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported.