In 1935, Western Union has put into operation first intercity fax communication. In October 2006 the company made an initial public offering of shares on the New York Stock Exchange, becoming independent from First Data company. Payment systems are one of basic elements of infrastructure of e-commerce. One of the common kinds of money transfer is a transfer via the international system of Western Union. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. 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. 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 - Sibley, the founder of Western Union, did not build a new telegraph lines, and persuaded the other players to join. American Telegraph Company, however, still had to buy it.