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. Western Union offers one of the easiest ways for families and friends to send money and stay connected almost anywhere in the world. The Western Union Company is a leader in global payment services In October 1871 the company has implemented the world's first telegraph money order. After a century money transfers have become a major source of income for Western Union.