In 1988, the company undertook a massive reorganization in response to rapidly changing business conditions. In particular, this need has arisen due to many technological changes that have taken place at that time. Company name was changed from Western Union Telegraph Co. to Western Union Corp. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. Another invention of Western Union - time synchronization. In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union. In 1849, Selden and Sibley, the founders of the future Western Union, created the New York State Printing Telegraph Company. Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders.