Difference between revisions of "Timeline of money transfer"
From Timelines
| (11 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
| − | This is a '''timeline of | + | This is a '''timeline of {{w|money transfer}}'''. |
==Sample questions== | ==Sample questions== | ||
| Line 9: | Line 9: | ||
{| class="wikitable" | {| class="wikitable" | ||
! Time period !! Development summary !! More details | ! Time period !! Development summary !! More details | ||
| + | |- | ||
| + | | 1871 < || Era of electronic money transfer, started with the first transaction by {{w|Western Union}}. | ||
|- | |- | ||
|} | |} | ||
| Line 17: | Line 19: | ||
! Year !! Event type !! Details !! Country/Geographical location | ! Year !! Event type !! Details !! Country/Geographical location | ||
|- | |- | ||
| − | | 1851 || Organization || {{w|Western Union}} starts operating as The New York and Mississippi Valley Printing Telegraph Company.<ref name="Western Union Financial Services, Inc.">{{cite web|title=Western Union Financial Services, Inc.|url=http://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/western-union|website=encyclopedia.com|accessdate=5 December 2017}}</ref> || {{w|United States}} | + | | 1851 || Organization || {{w|Western Union}} starts operating as The New York and Mississippi Valley Printing Telegraph Company.<ref name="Western Union Financial Services, Inc.">{{cite web|title=Western Union Financial Services, Inc.|url=http://www.encyclopedia.com/social-sciences-and-law/economics-business-and-labor/businesses-and-occupations/western-union|website=encyclopedia.com|accessdate=5 December 2017}}</ref><ref>{{cite book|last1=Wolff|first1=Joshua D.|title=Western Union and the Creation of the American Corporate Order, 1845–1893|url=https://books.google.com.ar/books?id=Mfd4AAAAQBAJ&pg=PP10&dq=%22in+1851%22+%22western+union%22&hl=en&sa=X&ved=0ahUKEwi0o5abtozYAhVCDZAKHZLUB3YQ6AEIJzAA#v=onepage&q=%22in%201851%22%20%22western%20union%22&f=false|accessdate=15 December 2017}}</ref><ref>{{cite book|last1=Byers|first1=Terri|title=Contemporary Issues in Sport Management: A Critical Introduction|url=https://books.google.com.ar/books?id=fTVwCgAAQBAJ&pg=PT601&dq=%22in+1851%22+%22western+union%22&hl=en&sa=X&ved=0ahUKEwi0o5abtozYAhVCDZAKHZLUB3YQ6AEILTAB#v=onepage&q=%22in%201851%22%20%22western%20union%22&f=false|accessdate=15 December 2017}}</ref><ref name="Cases in Leadership">{{cite book|last1=Rowe|first1=Glenn|last2=Guerrero|first2=Laura|title=Cases in Leadership|url=https://books.google.com.ar/books?id=8YJgUl4hKZUC&pg=PA190&dq=%22in+1851%22+%22western+union%22&hl=en&sa=X&ved=0ahUKEwi0o5abtozYAhVCDZAKHZLUB3YQ6AEIMjAC#v=onepage&q=%22in%201851%22%20%22western%20union%22&f=false|accessdate=15 December 2017}}</ref> || {{w|United States}} |
| + | |- | ||
| + | | 1866 || || {{w|Western Union}} introduces the stock ticker.<ref name="Cases in Leadership"/> || {{w|United States}} | ||
|- | |- | ||
| − | | 1871 || | + | | 1871 || Development || {{w|Western Union}} introduces the concept of {{w|wire transfer}}, a business that would eventually replace message sending as the company’s primary business.<ref name="Western Union Financial Services, Inc."/><ref name="Cases in Leadership"/> || {{w|United States}} |
|- | |- | ||
| 1884 || || Western Union is one of eleven stocks included in the first Dow Jones Average<ref>{{cite web|title=Western Union: A Spin-Off With Value|url=https://seekingalpha.com/article/48553-western-union-a-spin-off-with-value|website=seekingalpha.com|accessdate=5 December 2017}}</ref>, becoming one of the first companies to be ever listed on the {{w|New York Stock Exchange}}.|| {{w|United States}} | | 1884 || || Western Union is one of eleven stocks included in the first Dow Jones Average<ref>{{cite web|title=Western Union: A Spin-Off With Value|url=https://seekingalpha.com/article/48553-western-union-a-spin-off-with-value|website=seekingalpha.com|accessdate=5 December 2017}}</ref>, becoming one of the first companies to be ever listed on the {{w|New York Stock Exchange}}.|| {{w|United States}} | ||
| Line 25: | Line 29: | ||
| 1940 || Organization || {{w|MoneyGram}} is founded.<ref>{{cite web|title=How safe is MoneyGram for international money transfers?|url=https://www.finder.com/how-safe-is-moneygram-for-international-money-transfers|website=finder.com|accessdate=5 December 2017}}</ref> || {{w|United States}} | | 1940 || Organization || {{w|MoneyGram}} is founded.<ref>{{cite web|title=How safe is MoneyGram for international money transfers?|url=https://www.finder.com/how-safe-is-moneygram-for-international-money-transfers|website=finder.com|accessdate=5 December 2017}}</ref> || {{w|United States}} | ||
|- | |- | ||
| − | | 1962 || || | + | | 1962 || Organization || Online money transfer provider {{w|Moneycorp}} is established as Travelers Express Co. Inc.<ref>{{cite web|title=About moneycorp|url=https://global.moneycorp.com/usa/site-links/about-us/|website=global.moneycorp.com|accessdate=15 December 2017}}</ref><ref>{{cite web|title=Moneycorp: A review of the money transfer specialists|url=https://www.finder.com/uk/international-money-transfers/moneycorp|website=finder.com|accessdate=15 December 2017}}</ref><ref name="MoneyCorp Review">{{cite web|title=MoneyCorp Review|url=http://internationalmoneytransfer.co/reviews/moneycorp-review/|website=internationalmoneytransfer.co|accessdate=15 December 2017}}</ref> || {{w|United Kingdom}} |
|- | |- | ||
| − | | 1973 || || | + | | 1973 || Organization || The {{w|Society for Worldwide Interbank Financial Telecommunication}} (SWIFT) is founded as a cooperative society under Belgian law. Today SWIFT is a nonprofit cooperative society that links member banks worldwide through a data processing and transmission network. Its messaging platform, products and services connect more than 11,000 banking and securities organizations, market infrastructures and corporate customers in more than 200 countries and territories.<ref>{{cite web|title=Introduction to SWIFT|url=https://www.swift.com/about-us/discover-swift?AKredir=true|website=swift.com|accessdate=15 December 2017}}</ref><ref>{{cite book|last1=Scott|first1=Susan V.|last2=Zachariadis|first2=Markos|title=The Society for Worldwide Interbank Financial Telecommunication (SWIFT): Cooperative Governance for Network Innovation, Standards, and Community|url=https://books.google.com.ar/books?id=eTnjAQAAQBAJ&pg=PA16&dq=%22Society+for+Worldwide+Interbank+Financial+Telecommunication%22+%221973%22&hl=en&sa=X&ved=0ahUKEwjR5dLt0ozYAhWIC5AKHRCnAqsQ6AEIJzAA#v=onepage&q=%22Society%20for%20Worldwide%20Interbank%20Financial%20Telecommunication%22%20%221973%22&f=false|accessdate=15 December 2017}}</ref><ref>{{cite book|last1=Kyrtsis|first1=A.|title=Financial Markets and Organizational Technologies: System Architectures, Practices and Risks in the Era of Deregulation|page=118|url=https://books.google.com.ar/books?id=etp8DAAAQBAJ&pg=PA118&dq=%22Society+for+Worldwide+Interbank+Financial+Telecommunication%22+%221973%22&hl=en&sa=X&ved=0ahUKEwjR5dLt0ozYAhWIC5AKHRCnAqsQ6AEILjAB#v=onepage&q=%22Society%20for%20Worldwide%20Interbank%20Financial%20Telecommunication%22%20%221973%22&f=false|accessdate=15 December 2017}}</ref><ref>{{cite book|last1=Seeman|first1=Bharath|title=Bank Exam Pedia: Dec 2014|page=73|url=https://books.google.com.ar/books?id=iCawBgAAQBAJ&pg=PA73&dq=%22Society+for+Worldwide+Interbank+Financial+Telecommunication%22+%221973%22&hl=en&sa=X&ved=0ahUKEwjR5dLt0ozYAhWIC5AKHRCnAqsQ6AEIMzAC#v=onepage&q=%22Society%20for%20Worldwide%20Interbank%20Financial%20Telecommunication%22%20%221973%22&f=false|accessdate=15 December 2017}}</ref> || {{w|Belgium}} |
|- | |- | ||
| − | | 1979 || || " | + | | 1979 || || Moneycorp begins dealing in foreign exchange.<ref name="MoneyCorp Review"/><ref>{{cite web|title=Thrifty Brits abroad choose to keep their holiday cash|url=https://www.moneycorp.com/uk/media-centre/press-releases/thrifty-brits-abroad-choose-to-keep-their-holiday-cash/|website=moneycorp.com|accessdate=15 December 2017}}</ref><ref>{{cite web|title=MoneyCorp Review|url=http://internationalmoneytransfer.co/reviews/moneycorp-review/|website=internationalmoneytransfer.co|accessdate=15 December 2017}}</ref> || |
|- | |- | ||
| − | | 1985 || || " | + | | 1985 || Organization || The British {{w|Securities and Investments Board}} Ltd ("SIB") is incorporated. SIB would change its name to Financial Services Authority in 1997. The FSA would regulate the financial services industry in the United Kingdom.<ref>{{cite book|last1=Powell|first1=Ray|last2=Powell|first2=James|title=AQA A-level Economics, Book 2|url=https://books.google.com.ar/books?id=MuEqCgAAQBAJ&pg=PT387&dq=%22Securities+and+Investments+Board%22+%22in+1985%22&hl=en&sa=X&ved=0ahUKEwjkovzg4ozYAhXFGpAKHTfZDusQ6AEILTAB#v=onepage&q=%22Securities%20and%20Investments%20Board%22%20%22in%201985%22&f=false|accessdate=15 December 2017}}</ref><ref>{{cite book|last1=Bordo|first1=Michael D.|title=Central Banks at a Crossroads: What Can We Learn from History?|page=468|url=https://books.google.com.ar/books?id=cZ0rDAAAQBAJ&pg=PA468&dq=%22Securities+and+Investments+Board%22+%22in+1985%22&hl=en&sa=X&ved=0ahUKEwjkovzg4ozYAhXFGpAKHTfZDusQ6AEINDAC#v=onepage&q=%22Securities%20and%20Investments%20Board%22%20%22in%201985%22&f=false|accessdate=15 December 2017}}</ref><ref>{{cite book|last1=King|first1=Jane|last2=Carey|first2=Mary|title=Personal Finance|url=https://books.google.com.ar/books?id=4dxKDgAAQBAJ&pg=PA36&dq=%22Financial+Services+Authority%22+%22in+1997%22&hl=en&sa=X&ved=0ahUKEwiGp5b84ozYAhUEHJAKHabGCcAQ6AEIMzAC#v=onepage&q=%22Financial%20Services%20Authority%22%20%22in%201997%22&f=false|accessdate=15 December 2017}}</ref> || {{w|United Kingdom}} |
|- | |- | ||
| − | | 1996 || || | + | | 1996 || Organization || {{w|Currencies Direct}} is established.<ref>{{cite web|title=Smile, you are on Foreign Exchange|url=https://www.underconsideration.com/brandnew/archives/new_logo_and_identity_for_currencies_direct_by_the_allotment.php|website=underconsideration.com|accessdate=15 December 2017}}</ref> || {{w|United Kingdom}} |
|- | |- | ||
| 1998 || || "PayPal was founded under the name Confinity (will alter the way international money transfers are completed, normalizing the online platform)" || | | 1998 || || "PayPal was founded under the name Confinity (will alter the way international money transfers are completed, normalizing the online platform)" || | ||
| Line 109: | Line 113: | ||
===How the timeline was built=== | ===How the timeline was built=== | ||
| − | The initial version of the timeline was written by [[User: | + | The initial version of the timeline was written by [[User:Sebastian]]. |
{{funding info}} is available. | {{funding info}} is available. | ||
Revision as of 14:48, 15 December 2017
This is a timeline of money transfer.
Contents
Sample questions
The following are some interesting questions that can be answered by reading this timeline:
Big picture
| Time period | Development summary | More details |
|---|---|---|
| 1871 < | Era of electronic money transfer, started with the first transaction by Western Union. |
Full timeline
| Year | Event type | Details | Country/Geographical location |
|---|---|---|---|
| 1851 | Organization | Western Union starts operating as The New York and Mississippi Valley Printing Telegraph Company.[1][2][3][4] | United States |
| 1866 | Western Union introduces the stock ticker.[4] | United States | |
| 1871 | Development | Western Union introduces the concept of wire transfer, a business that would eventually replace message sending as the company’s primary business.[1][4] | United States |
| 1884 | Western Union is one of eleven stocks included in the first Dow Jones Average[5], becoming one of the first companies to be ever listed on the New York Stock Exchange. | United States | |
| 1940 | Organization | MoneyGram is founded.[6] | United States |
| 1962 | Organization | Online money transfer provider Moneycorp is established as Travelers Express Co. Inc.[7][8][9] | United Kingdom |
| 1973 | Organization | The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is founded as a cooperative society under Belgian law. Today SWIFT is a nonprofit cooperative society that links member banks worldwide through a data processing and transmission network. Its messaging platform, products and services connect more than 11,000 banking and securities organizations, market infrastructures and corporate customers in more than 200 countries and territories.[10][11][12][13] | Belgium |
| 1979 | Moneycorp begins dealing in foreign exchange.[9][14][15] | ||
| 1985 | Organization | The British Securities and Investments Board Ltd ("SIB") is incorporated. SIB would change its name to Financial Services Authority in 1997. The FSA would regulate the financial services industry in the United Kingdom.[16][17][18] | United Kingdom |
| 1996 | Organization | Currencies Direct is established.[19] | United Kingdom |
| 1998 | "PayPal was founded under the name Confinity (will alter the way international money transfers are completed, normalizing the online platform)" | ||
| 1998 | "MoneyGram International is formed" | ||
| 1998 | "OzForex (OFX) is founded in Australia" | ||
| 1999 | "Currencies Direct opened their first EU branch in Spain" | ||
| 2000 | "PayPal was merged with x.com of Elon Musk" | ||
| 2002 | "eBay buys PayPal (officially opening the gateway for online money transfers to be prevalent in everyday lives)" | ||
| 2003 | "SWIFT IBAN Registry" | ||
| 2004 | "World First is established" | ||
| 2004 | "TorFX is established" | ||
| 2004 | "Currencies Direct opened their office in South Africa" | ||
| 2005 | "OFX is established" | ||
| 2006 | "Western Union discontinus its telegram service" | ||
| 2007 | "Currencies Direct opened their office in USA" | ||
| 2008 | "World First opened their office in Australia" | ||
| 2010 | "The Collapse of The Crown Currency Foreign Exchange Business" | ||
| 2011 | "TransferWise is established" | ||
| 2011 | "Western Union Buys Travelex" | ||
| 2012 | "World First opened their office in the US" | ||
| 2012 | "Azimo is established" | ||
| 2013 | "FCA was is established and FSA was abolished" | ||
| 2013 | "World First opened their office in Singapore" | ||
| 2013 | "OFX is listed on the Austrlian Securities Exchange under symbol OFX" | ||
| 2014 | "Euronet Worldwide Acquires HiFX" | ||
| 2014 | "World First opened their office in Hong Kong" | ||
| 2015 | "Euronet Worldwide Acquires XE" | ||
| 2015 | "Palamon Capital Partners and Corsair Capital acquires Currencies Direct" | ||
| 2015 | "Transferwise gets $58m in a single funding round led by Andreessen Horowitz" | ||
| 2015 | "World Remit raises $100m in a single funding round led by Accel Partners, with a valuation of $500m" | ||
| 2016 | "Global Reach Partners Purchases FC Exchange" | ||
| 2017 | "Ant Financial buys Moneygram" | ||
| 2017 | "TransferWise reports GBP 1bn in monthly revenues" | ||
| 2017 | "MoneyCorp buys Commonwealth Foreign Exchange" | ||
| 2017 | "Cambridge FX is bought by Fleector" | ||
| 2017 | "OFX Brand Consolidated" |
Meta information on the timeline
How the timeline was built
The initial version of the timeline was written by User:Sebastian.
Funding information for this timeline is available.
What the timeline is still missing
Some sources that can be used for initial event lists:
Things they miss:
- Hawala system, and similar informal money transfer systems
- New tech: M-Pesa, and new companies like Wave (wave.com)
More sources:
Timeline update strategy
See also
External links
References
- ↑ 1.0 1.1 "Western Union Financial Services, Inc.". encyclopedia.com. Retrieved 5 December 2017.
- ↑ Wolff, Joshua D. Western Union and the Creation of the American Corporate Order, 1845–1893. Retrieved 15 December 2017.
- ↑ Byers, Terri. Contemporary Issues in Sport Management: A Critical Introduction. Retrieved 15 December 2017.
- ↑ 4.0 4.1 4.2 Rowe, Glenn; Guerrero, Laura. Cases in Leadership. Retrieved 15 December 2017.
- ↑ "Western Union: A Spin-Off With Value". seekingalpha.com. Retrieved 5 December 2017.
- ↑ "How safe is MoneyGram for international money transfers?". finder.com. Retrieved 5 December 2017.
- ↑ "About moneycorp". global.moneycorp.com. Retrieved 15 December 2017.
- ↑ "Moneycorp: A review of the money transfer specialists". finder.com. Retrieved 15 December 2017.
- ↑ 9.0 9.1 "MoneyCorp Review". internationalmoneytransfer.co. Retrieved 15 December 2017.
- ↑ "Introduction to SWIFT". swift.com. Retrieved 15 December 2017.
- ↑ Scott, Susan V.; Zachariadis, Markos. The Society for Worldwide Interbank Financial Telecommunication (SWIFT): Cooperative Governance for Network Innovation, Standards, and Community. Retrieved 15 December 2017.
- ↑ Kyrtsis, A. Financial Markets and Organizational Technologies: System Architectures, Practices and Risks in the Era of Deregulation. p. 118. Retrieved 15 December 2017.
- ↑ Seeman, Bharath. Bank Exam Pedia: Dec 2014. p. 73. Retrieved 15 December 2017.
- ↑ "Thrifty Brits abroad choose to keep their holiday cash". moneycorp.com. Retrieved 15 December 2017.
- ↑ "MoneyCorp Review". internationalmoneytransfer.co. Retrieved 15 December 2017.
- ↑ Powell, Ray; Powell, James. AQA A-level Economics, Book 2. Retrieved 15 December 2017.
- ↑ Bordo, Michael D. Central Banks at a Crossroads: What Can We Learn from History?. p. 468. Retrieved 15 December 2017.
- ↑ King, Jane; Carey, Mary. Personal Finance. Retrieved 15 December 2017.
- ↑ "Smile, you are on Foreign Exchange". underconsideration.com. Retrieved 15 December 2017.
