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. As a result of 2011, net income of Western Union has increased by 28% to $ 1.165 billion, the company reported. 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. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide.