Another invention of Western Union - time synchronization. The Western Union Company is a leader in global payment services One of the common kinds of money transfer is a transfer via the international system of Western Union. You do not need to open a bank account, so you can send or receive money in any of the 170 000 service points of Western Union around the world. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. 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. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 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. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. Gold Card Loyalty Program Western Union