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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. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. 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. Western Union incomes for 2007 have made $4,9 billion US dollars, and the quantity of transactions has made 572 million. Founder of Western Union Hiram Sibley was born in 1807 in Massachusetts (USA). At age of 14 has mastered the profession of shoemaker, at age 16 he left his native cityand moved to New York, where he went into wool carder. In 1991, Western Union has sold some low-profit division of the company AT & T, GM Hughes Electronics, and to some others. In the same year the company changed its name to New Valley Corp.


Western union sending money to Yemen

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. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average.


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In February 2009 the company entered into an agreement with Fexco to acquire 100% of its shares for $ 159.9 million. Western Union has taken of 451st position in the rating Fortune 500 in 2009, having moved from 473rd line in 2008. 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. In 1860 the U.S. Congress arranged among the telegraph companies a competition to create a national line. The winner was Western Union. The project of congressmen involved the construction of lines with the length of two thousand miles in 10 years. Western Union handled the government task within 112 days. The secret of Sibley was simple: he used the tactics of the "Western Union". 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. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. On the market was placed about 765 million of ordinary shares of the company. On the first day trading on the exchange the company's shares rose by 3.3% and the cost was $ 19.96.