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. In 1866, Sibley ordered the engineers to develop a Western Union telegraph system of stock quotes in real time. Money transfer is a matter of minutes, at any distance. Payment systems are one of basic elements of infrastructure of e-commerce. In 1879 Western Union left the telephone business after losing a lawsuit against Alexander Graham Bell - the patent holder on the phone.