1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. The Western Union Company is a leader in global payment services In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. The Western Union Company is a financial services and communications company based in the United States. 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. 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.