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.............................. Western Union
Logo and Trademark..............................
The Western Union Company (NYSE: WU) is a financial services and communications company based in the United States. Its North American headquarters are in Greenwood Village, Colorado, and its international marketing and commercial services headquarters are in Montvale, New Jersey. Until it discontinued the service, this company was the best known US company in the business of exchanging telegrams. Western Union has a number of divisions, with products such as person-to-person money transfer, money orders, and commercial services. As of June 9, 2006, the company has 270,000 Western Union agent locations in over 200 countries and territories. Reported revenues top $3 billion annually. Western Union was involved in the Automatic Digital Network (AUTODIN) program. AUTODIN, a military application for communication, was first developed in the 1960s and became the precursor to the modern internet in the 1990s. The Defense Message System (DMS) replaced AUTODIN in 2000.
AUTODIN was an extremely primitive service that used mechanical card readers and tab machines to send and receive data over leased circuits. WU failed in its attempts to engineer a replacement (AUTODIN II), leading to the development of an acceptable packet-switched network by BBN (the developer of the ARPANET) which became the foundation of today's INTERNET. AUTODIN was of limited usefulness and obsolete decades before 2000. That is simply when the service was finally stopped.
A related innovation that came from AUTODIN was Western Union's computer based EasyLink service. This service was developed for business application. This system allowed for one of the first marketable electronic mail systems for non-government users. In addition, the system allowed the same message to be sent simultaneously to multiple recipients via email, fax, mailgram, or telex services; as well as receive messages from the integrated formats. With the service, users could also perform research utilizing its InfoLink application. EasyLink Services is now its own company.
As the Internet became an arena for commerce at the turn of the millennium, Western Union started its online services. BidPay was renamed "Western Union Auction Payments" in 2004 before being renamed back to BidPay. BidPay ceased operations on 31 December 2005 and was purchased for USD$1.8 million in March 2006 by CyberSource Corp. who announced their intention to re-launch BidPay.
In October of 2007 Western Union announced plans to introduce a mobile money transfer service with the GSM Association, a global trade association representing more than 700 mobile operators in 218 countries and covering 2.5 billion mobile subscribers.
The proliferation of mobile phones in developed and developing economies provides a widely accessible consumer device capable of delivering mobile financial services ranging from text notifications associated with Western Union cash delivery services to phone-based remittance options. Western Union's mobile money transfer service offering will connect its core money transfer platform to m-bank or m-wallet platforms provided by mobile operators and / or locally regulated financial institutions.
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