Money Transfer Systems
Western Union Money Transfer information
After several conflicts, Western Union and Gould have reached a peaceful agreement - Western Union will give the railroad magnate the telephone patent of Edison, and Gould and Bell will stay away from the telegraph business. Debts of the company Western Union were increasing: in 1983 losses exceeded $ 54 million. Under the First Data Corporation Western Union company existed until 2006. Successful division of money transfers Western Union Financial Services Inc. shareholders have sold to the financial services company First Financial Management Corporation for $ 1.19 billion. 1871 - Western Union conducted the world's first telegraph money order. After 100 years, remittances have become a major source of income of the company.