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. The presence of Western Union Gold Card at the client greatly simplifies the process of further processing of money transfers of and reduces the operation time for the sending of money, as the "Gold Card" is a carrier of the personal information about the client. In 1920, Western Union has implemented the world's first transmission of images over the ocean. Western Union has several divisions, with products such as person-to-person money transfer, money orders, business payments and commercial services. In 2007 the company made 167.7 million transactions on money transfers between individuals and 404.6 million transactions between physical and legal persons.