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. 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. Number of active holders of "Golden Card" of Western Union amounted to 9.5 million people worldwide. In 1884 Western Union has become a joint-stock company and was brought to the stock exchange. The company has entered in the first American stock index Dow Jones. Western Union made so that the time in all of American civil services was the same.