Western Union History

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  • Topic: United States, Telecommunications history, Dow Jones Industrial Average
  • Pages : 1 (301 words )
  • Download(s) : 41
  • Published : March 6, 2013
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Western Union

This essay is about a company that has been growing for more than 160 years. They started its history as a telegraph and wire services company. Western Union is a company that was founded in the United States of America as New York and Mississippi Valley Printing Telegraph Company in 1851. They offer an array of financial services, including money transfer, prepaid services, and services for businesses. They serve customers online, by phone and from 510,000 Agent Locations worldwide. Based on the official site of the company, now I’m going to give a little information to know more about them. History

In 1856 western union changed its name from the New York and Mississippi Valley Printing Telegraph Company to Western Union. The new name marked consolidation of several lines in the western-most reaches of the U.S. telegraph system. In 1861 they completed the first transcontinental telegraph line across North America. By 1869 they introduced the first successful stock ticker, by1871 Introduced money transfer, by 1884 they named one of the original 11 stocks in the Dow Jones Industrial Average.4. Then in 1896 they provided service to Europe, Northern Africa, North and South America, Australia and Asia, by 1914 they Introduced the first customer charge card, by1933 they delivered the first singing telegram, by 1943 they pioneered the first commercial inner-city microwave communications system. In 1974 they Introduced the first commercial satellite in the U.S.In 1980 money transfer revenue exceeded telegram service revenue for the first time, then in 1993 they introduced the first disposable prepaid phone card. By 2001 they celebrated 150th anniversary by expanding to more than 100,000 Agent Locations worldwide and by 2006 they Handled 147 million consumer-to-consumer money transfers and 249 million bill-paying transactions.
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