Timeline of money transfer

From Timelines
Revision as of 23:31, 19 December 2017 by Sebastian (talk | contribs)
Jump to: navigation, search

This is a timeline of money transfer.

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 American money transfer company 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 Organization Peter Thiel and Max Levchin found PayPal under the name Confinity, with the idealistic vision of borderless currency, free from governmental controls. PayPal would grow rapidly so as to alter the way international money transfers are completed, normalizing the online platform.[20][21][22] United States
1998 Organization MoneyGram International is formed.[23] United States
1998 Organization Australian online foreign exchange and payments company OFX is founded as OzForex.[24][25] Australia
1999 "Currencies Direct opened their first EU branch in Spain"
2000 Confinity merges with X.com (founded by Elon Musk) to become PayPal.[26][27][28][29]
2002 eBay buys PayPal. This would open the gateway for online money transfers to be prevalent in many people's everyday lives.[30][31][32][33]
2003 "SWIFT IBAN Registry"
2004 "World First is established"
2004 Organization Tor Currency Exchange Ltd ("TorFX") is established to provide foreign exchange and international payments to companies and individuals. TorFX would expand across the globe, including Australia, South Africa, the United Kingdom, India, the United States, Spain, Portugal and France.[34][35][36][37]
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 Organization Estonian developed and UK-based peer-to-peer money transfer service TransferWise is established in London.[38][39][40][41] United Kingdom
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. 
  19. ↑ "Smile, you are on Foreign Exchange". underconsideration.com. Retrieved 15 December 2017. 
  20. ↑ "History of PayPal: the history of the biggest online payment system in the world". techworld.com. Retrieved 20 December 2017. 
  21. ↑ Gardner, James A. Innovation and the Future Proof Bank: A Practical Guide to Doing Different Business-as-Usual. Retrieved 20 December 2017. 
  22. ↑ Gayles, Kiesha. Amazon Paypal eBay. Retrieved 20 December 2017. 
  23. ↑ "History". moneygram.com. Retrieved 20 December 2017. 
  24. ↑ Business Review Weekly: BRW, Volume 27, Issues 39-42. Retrieved 20 December 2017. 
  25. ↑ "What does the OFX say?". underconsideration.com. Retrieved 20 December 2017. 
  26. ↑ Napier, H. Albert; Rivers, Ollie N.; Wagner, Stuart. Creating a Winning E-Business. 
  27. ↑ Sherif, Mostafa Hashem. Protocols for Secure Electronic Commerce, Third Edition. 
  28. ↑ Samit, Jay. Disrupt You!: Master Personal Transformation, Seize Opportunity, and Thrive in the Era of Endless Innovation. Retrieved 20 December 2017. 
  29. ↑ Packer, George. The Unwinding: An Inner History of the New America. 
  30. ↑ Ivantsov, Evgueni. Heads or Tails: Financial Disaster, Risk Management and Survival Strategy in the World of Extreme Risk. Retrieved 20 December 2017. 
  31. ↑ Blythe, Jim. Principles and Practice of Marketing. Retrieved 20 December 2017. 
  32. ↑ Scott, Celicia. YouTube®: How Steve Chen Changed the Way We Watch Videos. Retrieved 20 December 2017. 
  33. ↑ E-Retailing Challenges and Opportunities in the Global Marketplace (Dixit, Shailja ed.). Retrieved 20 December 2017. 
  34. ↑ "About Us: Security". torfx.com. Retrieved 20 December 2017. 
  35. ↑ "Learn more about TorFX and whether they are good option for sending money overseas.". thecurrencyshop.com.au. Retrieved 20 December 2017. 
  36. ↑ "TorFX Review". fxcompared.com. Retrieved 20 December 2017. 
  37. ↑ "Find the Best Way to Transfer Money Overseas". thecurrencyshop.com. Retrieved 20 December 2017. 
  38. ↑ Botsman, Rachel. Who Can You Trust?: How Technology Brought Us Together and Why It Might Drive Us Apart. Retrieved 20 December 2017. 
  39. ↑ Entrepreneurship in Transition Economies: Diversity, Trends, and Perspectives (Arnis Sauka, Alexander Chepurenko ed.). Retrieved 20 December 2017. 
  40. ↑ Klein, Joshua. Reputation Economics: Why Who You Know Is Worth More Than What You Have. Retrieved 20 December 2017. 
  41. ↑ pigel, Ivo. The European Startup Revolution: Interviews With European Entrepreneurs. Retrieved 20 December 2017. 
Retrieved from "http://timelines.issarice.com/index.php?title=Timeline_of_money_transfer&oldid=19242"