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. 1980 - for the first time in the history of Western Union revenues from money transfers exceeded the income from the telegraph service. In 1995, First Financial Management was acquired by First Data Corp. (the deal amounted to $ 7 billion), and Western Union Financial Services became a subsidiary of First Data. Payment systems are one of basic elements of infrastructure of e-commerce. In 1914 Western Union engineers invented the first payment card - a prototype of the modern credit card. The Western Union Company is a financial services and communications company based in the United States. In the 1910-1920 years. Western Union is actively engaged in researching, innovating in the field of data transmission. Western Union made so that the time in all of American civil services was the same. Western Union made so that the time in all of American civil services was the same.