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Western Union

Western Union

Western Union is an american financial services and communications company founded in 1851 by Ezra Cornell, Jeptha Wade, Hiram Sibley and Samuel L. Selden.

The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado.

Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company changed its name to the Western Union Telegraph Company in 1856 after merging with a competitor. The company dominated the American telegraphy industry from the 1860s to the 1980s, pioneering technology such as telex and developing a range of telegraph-related services (including wire money transfer) in addition to its core business of transmitting and delivering telegram messages.

After experiencing financial difficulties, Western Union began to move its business away from communications in the 1980s and increasingly focused on its money transfer services. The company ceased its communications operations completely in 2006 and is now the second largest money transfer provider in the world.

Timeline

November 22, 2020
Western Union acquires 15% stake in digital payment unit of Saudi Arabia's STC Group for $200 million.
September 18, 2019
The retailer today announces the U.S. arrival of Amazon PayCode, a new checkout option that will allow online shoppers to pay for Amazon.com purchases at one of 15,000 Western Union locations.
1850
Western Union was founded by Ezra Cornell, Hiram Sibley, Jeptha Wade and Samuel L. Selden.

Patents

Further Resources

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News

Title
Author
Date
Publisher
Description
Brand Post
August 6, 2021
CIO
Experts at TCS and Western Union share the trends that are affecting digital transformation in financial services.
Mary Ann Azevedo
June 28, 2021
TechCrunch
The saying goes that, "You can't teach an old dog new tricks." That may or may not be true, but at least one "old dog" is working hard to disprove that saying. Western Union has been operating in the cross-border payments space for nearly 150 years (yes, you read that right - 150 years) and [...]
Catherine Shu
May 18, 2021
TechCrunch
The world of digital payments is very fragmented, with different types of online bank accounts, digital wallets and money transfer services used in different countries. Singapore-based Thunes, a fintech focused on making cross-border money transfers easier, announced today it has raised a $60 million growth round led by Insight Partners. One of the world's largest [...]
DNA Web Team
May 12, 2021
DNA India
Google Pay users can now send money from US to India, here's how - Google has partnered with Western Union and Wise to enable the new service via the Google Pay app.
Richard Speed
May 12, 2021
go.theregister.com
Company continues to make losses without troubling space
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References

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