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. Another invention of Western Union - time synchronization. The Western Union Company is a leader in global payment services One of the common kinds of money transfer is a transfer via the international system of Western Union. The first offices of company were located in the Reynolds Arcade building in Rochester, New York. The sign above the main entrance to the building - Western Union for more than 130 years provides money transfer services to its customers.