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 1935, Western Union has put into operation first intercity fax communication. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. 1970 - a new service called Western Union for more than 130 years provides money transfer services to its customers. Gold Card Loyalty Program Western Union