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 Western Union Company - the American company, specialising on granting of services of monetary intermediary. Western Union was founded in 1851. The company is one of leaders in the market of the international remittances. 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. July 3, 1884 the company's shares were included in the calculation base for the newly created stock index Dow Jones Transportation Average. One of the common kinds of money transfer is a transfer via the international system of Western Union. Transaction with Fexco has allowed Western Union to control directly more than 10 thousand points of service, which belonged to Fexco in 7 European countries (Spain, UK, Sweden, Ireland, Denmark, Norway and Finland).