Timeline of money transfer

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This is a timeline of FIXME.

Sample questions

The following are some interesting questions that can be answered by reading this timeline:

Big picture

Time period Development summary More details

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 wiring money, 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 "Currencies Direct is established"
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:

Money transfer


Timeline update strategy

See also

External links

References

  1. 1.0 1.1 "Western Union Financial Services, Inc.". encyclopedia.com. Retrieved 5 December 2017. 
  2. Wolff, Joshua D. Western Union and the Creation of the American Corporate Order, 1845–1893. Retrieved 15 December 2017. 
  3. Byers, Terri. Contemporary Issues in Sport Management: A Critical Introduction. Retrieved 15 December 2017. 
  4. 4.0 4.1 4.2 Rowe, Glenn; Guerrero, Laura. Cases in Leadership. Retrieved 15 December 2017. 
  5. "Western Union: A Spin-Off With Value". seekingalpha.com. Retrieved 5 December 2017. 
  6. "How safe is MoneyGram for international money transfers?". finder.com. Retrieved 5 December 2017. 
  7. "About moneycorp". global.moneycorp.com. Retrieved 15 December 2017. 
  8. "Moneycorp: A review of the money transfer specialists". finder.com. Retrieved 15 December 2017. 
  9. 9.0 9.1 "MoneyCorp Review". internationalmoneytransfer.co. Retrieved 15 December 2017. 
  10. "Introduction to SWIFT". swift.com. Retrieved 15 December 2017. 
  11. 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. 
  12. Kyrtsis, A. Financial Markets and Organizational Technologies: System Architectures, Practices and Risks in the Era of Deregulation. p. 118. Retrieved 15 December 2017. 
  13. Seeman, Bharath. Bank Exam Pedia: Dec 2014. p. 73. Retrieved 15 December 2017. 
  14. "Thrifty Brits abroad choose to keep their holiday cash". moneycorp.com. Retrieved 15 December 2017. 
  15. "MoneyCorp Review". internationalmoneytransfer.co. Retrieved 15 December 2017. 
  16. Powell, Ray; Powell, James. AQA A-level Economics, Book 2. Retrieved 15 December 2017. 
  17. Bordo, Michael D. Central Banks at a Crossroads: What Can We Learn from History?. p. 468. Retrieved 15 December 2017. 
  18. King, Jane; Carey, Mary. Personal Finance. Retrieved 15 December 2017.