1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. Another invention of Western Union - time synchronization. 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). 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.