The Western Union has been drawing people closer together for over a century, using telegraphs to connect distant places. It is also one of the most dependable money transfer services in the world. In 1851, the New York and Mississippi Valley Printing Telegraph Company was formed in Rochester, New York. In 1861, the first transcontinental telegraph line was completed. In 1989, the company introduced flat-rate money transfers and expanded to over 50,000 locations worldwide. By 2000, it was providing online money transfer services.
In 2001, Western Union opened its 150th agent location. As deregulation of telecommunications swept across the country, the company rebranded itself as the “fastest worldwide money transfer service” and began expanding its agent network. Western Union also began to provide a sponsorship program for charities and major events in the United States.
Today, Western Union has expanded its reach to over 100 countries, offering money transfer services that are instantaneous. It is also known for being the first company to develop a singing telegram, inter-city facsimile, and pre-paid phone card. In the 1990s, Western Union became the first company with five satellites in orbit.
The company was founded in 1851 and has been in business for more than 168 years. Originally known as the New York and Mississippi Valley Telegraph Printing Company, the company was founded by Hiram Sibley and Ezra Cornell. In 1855, Hiram Sibley merged his telegraph company with Cornell’s and formed Western Union. In 1861, Western Union introduced the first transcontinental telegraph.
As a part of its growth, Western Union began to acquire several smaller and larger telegraph companies. By the year 1884, it had absorbed nearly 500 telegraph companies across the country. By the end of the century, the company had grown to such a level that it was included in the Dow Jones Average.
In recent years, Western Union has partnered with a new startup that allows people in Africa to send money by mobile phone. This partnership has been successful in many ways, but some detractors claim it is a scam. Western Union has also begun to provide mobile payments for African countries and has been testing mobile payment services for the past eight years.
It was eight years before the Trans-Continental Railroad was completed. The workers installed the final link in Salt Lake City, Utah, on October 24, 1861. This paved the way for instant communication between Washington, D.C. and San Francisco. In the 1850s, a man named Stephen J. Field sent a telegram to President Lincoln, and he predicted that the new telegraph network would help secure the western states during the Civil War. It is believed that the telegraph network played a major role in securing the western states from attack.
Western Union’s history is full of innovations and achievements. It has expanded into the online realm, with dedicated Facebook pages for customers.