The company has three main businesses:
First Data Commercial Services
First Data Financial Institution Services
First Data International
First Data spun off its Western Union division last year into a separately traded company.
In 2006, the company reported revenues of $7.07 billion and net income of $1.51 billion.
Since its flagship subsidiary Western Union Financial Services, Inc. pioneered the first electronic money transfer in 1871, First Data has been sending money safely, securely, and reliably. From the beginning of money wiring to delivering the first singing telegram in 1933, to becoming the first processor of both VISA and MasterCard bank-issued credit cards in 1976, the company has been instrumental in every development involving the electronic transfer of money.
Whether by linking banks through the first ATM network (1981) or forming partnerships that created the earliest Internet portals, First Data has been erasing geographic boundaries to connect people across the globe.
In 1994, Western Union Financial Services, Inc. is acquired by First Financial Management Corporation.
In 1995, First Financial Management Corporation merges with First Data Corporation. Western Union Financial Services, Inc. becomes a First Data Corporation subsidiary.
Western Union stopped its telegram service after 155 years of service in 2006. Telegrams were a key form of communication in the 1800s and early 1900s to send messages across long distances. With telephones and technology like faxes and e-mail, usage dropped considerably and the service was ended.
Health and Life Benefits include: Medical and Dental Coverage, Health Care and Dependent Care Reimbursement Accounts, Short- & Long-Term Disability, Life Insurance, Supplemental Employee, Spouse and Child Life Insurance, Basic & Voluntary Accidental Death and Dismemberment (AD&D), Business Travel Accident Insurance and Long-Term Care Insurance.
- 401(k) and employee discount stock purchase program
- Vacation time and personal time
- Employee Assistance Program
- Adoptions Assistance Program
- Legal Assistance Plan
- Flexible Reimbursement Accounts
- Employee Gift Matching
- Scholarship Awards Program
- Tuition Assistance Program
Updated July 20, 2007